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 above the weekly R1 simple pivot point at 132.89 could result in the pair testing the 133.00, 133.50 and 134.00 levels.
On the other hand, a decline in the value of the US Dollar against the Japanese Yen is expected to be slowed down by 132.00. Further below, note the support of the 50, 100 and 200-hour simple moving averages near 131.50.
USD/JPY daily chart's review
On the daily candle chart, the pair was being observed to be recovering from the support zone at 130.00/131.40.Take into account the 55 and 100-day simple moving averages, which could act as resistance near 133.00.
Daily chart
On Tuesday on the Swiss Foreign Exchange, traders were 60% 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 66% to buy the USD against the JPY.
On Wednesday, traders were 59% short and orders were 53% to sell.