Economic Calendar
Next week, on Wednesday, the US ISM Services PMI at 14:00 GMT might impact the pair through the value of the US Dollar.
On Friday, one of the top events of the month will take place. At 12:30 GMT, the US employment data sets are scheduled to be released. The release will consist of the US Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
Hourly Chart
A continuation of the USD/JPY surge could encounter resistance in the 134.75 level, the weekly S1 simple pivot point and the 135.00 mark together with the 50-hour simple moving average. Higher above, note the 135.50 and 136.00 levels and the 100-hour simple moving averages near 135.86.
However, a potential decline of the currency pair is expected to look for support in the weekly S2 simple pivot point at 133.50, prior to once again reaching the 132.50.
USD/JPY daily chart's review
On the daily candle chart, the rate has broken major support levels and is approaching the support zone near 131.50 and the 100-day simple moving average.Daily chart
On Thursday, on the Swiss Foreign Exchange, traders were 74% 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 82% to sell the USD against the JPY.
On Friday, open positions were 73% short and pending orders were 52% to sell.