Economic Calendar
On Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT.
Hourly Chart
A resumption of the surge is expected to face resistance at 149.50, 149.70 levels and the weekly R2 simple pivot point at 149.90. In the case of these levels failing, the rate will reach the 150.00 mark.
However, a move below the weekly R2 simple pivot point at 149.18 is expected to result in the pair looking for support in the 149.00 mark and the 100-hour simple moving average. Further below, note the weekly R1 at 148.76, the 148.50 level and the approaching 200-hour simple moving average.
USD/JPY daily chart's review
On the daily candle chart, the ascending channel pattern has been adjusted to the spot of the recent rebound that started as the rate confirmed the 1998 high level as support.Daily chart
On Wednesday, traders were bearish on USD/JPY, as 57% of open positions on the Swiss Foreign Exchange were short.
In the meantime, trader pending orders in the 100-point range around the current exchange rate were 54% to buy.
On Thursday, the positions were already 59% short and orders were 57% long.