Economic Calendar
Watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable events scheduled that can impact the financial markets.
Hourly Chart
If the USD/JPY reaches above the 146.60 level, the rate could be slowed down by the 147.00 mark, before the 147.23/147.36 August high level range.
On the other hand, a decline of the US Dollar against the Japanese Yen is expected to look for support in the 145.70 level and the 50-hour simple moving average, the 145.50, 145.00 and 144.50 levels.
USD/JPY daily chart's review
On the daily candle chart, on August 10, the rate reached the 145.00/146.00 range, which marks a zone that acted as resistance and support in the second part of 2022. At the end of June and early July of 2023 this range caused the July decline.Recently, the resistance zone was broken and the range has turned into support.
Daily chart
On Friday, traders were bearish on USD/JPY, as 62% 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 are 67% to buy.
On Monday, positions were 60% short and orders were 58% to buy.