Economic Calendar
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 resumption of the US Dollar's decline against the Japanese Yen might find support in the 130.00 mark, prior to approaching the 129.50 level and the weekly S2 simple pivot point at 129.43. Further below, note the 129.00, 128.50 and 128.00 levels.
However, a recovery of the currency exchange rate might encounter resistance in the weekly S1 simple pivot point at 131.32 and the combination of the 131.50 level and the upper trend line of the channel down pattern.
USD/JPY daily chart's review
On the daily candle chart, the rate has passed below the combination of a high and low level zone at 131.25/132.00 and the 100-day simple moving average. Further below, note the May low level range at 126.40/126.95.Daily chart
On Monday, on the Swiss Foreign Exchange, traders were 72% 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 64% to sell the USD against the JPY.
On Tuesday, open positions were 70% short and pending orders were 56% to buy.