Economic Calendar
The week is set to end with the release of the United States employment data at 13:30 GMT. The data release consists of the US Average Hourly Earnings changes, Non-Farm Employment Change and Unemployment Rate.
Next week, on Monday at 15:00, the US ISM Services Purchasing Managers Index might impact the US Dollar's value.
On Friday, the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it is assumed that producer level inflation is followed afterwards by consumer level inflation, which the US policymakers want to reduce.
Hourly Chart
If the US Dollar continues to decline against the Japanese Yen, the rate could find support in the 133.50 level, the weekly S3 simple pivot point at 133.13 and the 133.00 mark. Further below, only round price levels might act as support, as there are no more technical levels located below 133.13.
Meanwhile, a potential recovery of the USD against JPY is highly likely set to encounter resistance in the 135.00 mark, the weekly S2 simple pivot point at 135.60 and the combination of the 136.00 level with the 50-hour simple moving average.
USD/JPY daily chart's review
On the daily candle chart, the pair is already below the 2002 high level of 135.00. Note the lower trend line of the channel down pattern, which has been guiding the rate down since early October.Daily chart
On Thursday, on the Swiss Foreign Exchange, traders were 60% short, as that amount of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 52% to buy the USD against the JPY.
On Friday, the sentiment was 59% short and orders were 88% to sell.