Economic Calendar
This Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT.
Next week, the US ISM Manufacturing PMI could impact the markets via the US Dollar at 14:00 GMT.
On Tuesday, the US JOLTS Job Opening might cause a USD move at 14:00 GMT.
On Wednesday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT and the US ISM Services PMI at 14:00 GMT.
On Thursday, minor action is expected from the US Unemployment Claims.
On Friday, the top event of the week will take place. The United States will publish the monthly employment data at 12:30 GMT. The release will consist of the Average Hourly Earnings, Non-farm Employment Change and the Unemployment Rate.
Hourly Chart
A move above the 100-hour SMA and the weekly R2 simple pivot point at 149.18 should result in the rate testing the 50-hour simple moving average near 149.30, before approaching the 149.50 level.
On the other hand, a decline is expected to look for support in the weekly R1 at 148.76. Below this level, the 200-hour SMA should once again come into play.
USD/JPY daily chart's review
On the daily candle chart, the rate appears to be finding support in the lower trend line of the channel up pattern.Daily chart
On Friday, traders were bearish on USD/JPY, as 59% 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 55% to buy.
On Thursday, the positions were already 59% short and orders were 57% long.