Economic Calendar
On Thursday, at 12:30 GMT, the publication of Final US quarterly Gross Domestic Product is set to be published. The release might impact the USD. However, it is usually the Preliminary GDP release, which impact the markets.
On Friday, the US Core PCE Price Index is set to reveal inflation's impact on the consumers. This indicator is seen by the US Federal Reserve as more important than the CPI. The publication is scheduled for 12:30 GMT.
Hourly Chart
A move below 130.00 could look for support in the 129.50 level and the weekly S2 simple pivot point at 129.27. Further below, there appears to be no close by technical support.
However, a recovery of the US Dollar against the Japanese Yen should encounter resistance in the weekly S1 simple pivot point at the 130.50 level. Higher above, note the 131.00 and 131.50 levels and the approaching 50 and 100-hour simple moving averages.
USD/JPY daily chart's review
On the daily candle chart, the pair has bounced off the resistance of the 200-day simple moving average near 137.70 and has declined to the 130.50/131.40 support range. On Friday morning, it appeared that the support zone was being pierced. Next target for a broader decline would be the 2023 January and mid-2022 support zone at 126.35/127.25.Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 64% bearish, 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 53% to sell the USD against the JPY.
On Thursday, traders were 62% short and orders were 71% to sell.