Economic Calendar
On Tuesday, at 12:30 GMT, the US Consumer Price Index will reveal, how the US inflation has continued to grow, as some market analysts speculate that month-on-month inflation for consumers in the United States could soon hit the 1.00% mark. Expect the US Dollar's value to adjust to the news.
During the middle of Wednesday's trading, at 12:30 GMT, the US Producers Price Index data will reveal how prices have changed at the production level. Most likely, the USD is set to move due to the release.
On Thursday, 12:30 GMT, the US Retail Sales data and weekly Unemployment Claims are scheduled to impact the value of the US Dollar.
Click on the link below to find out more about data releases of this and other currency exchange rates.
Hourly Chart
If the pair continues to surge, next target would be the 126.00 mark. Above the round exchange rate level, note the weekly R2 simple pivot point at 126.15. Higher above, there is no technical resistance and the pair could slow down at other round exchange rate levels.
On the other hand, a decline of the US Dollar against the Japanese Yen might look for support in the 125.50 level, the weekly R1 simple pivot point at 125.22 and the 125.00 mark.
USD/JPY daily chart's review
On the daily candle chart, the pair has passed above the previous high level of March at 125.10. Meanwhile, note that the 2015 high level at 125.85 might turn into resistance.Daily chart
Since Thursday, on the Swiss Foreign Exchange, traders were short, as 73% 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 Monday, the open positions were 70% short and pending orders were balanced 50% to buy and 50% to sell.