Economic Calendar
This week, the top event will be the FOMC Meeting Minutes publication on Wednesday at 18:00 GMT. The Meeting Minutes will reveal additional details into the US monetary policy.
On Thursday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT, the US Unemployment Claims at 12:30 GMT and the ISM Services PMI together with the JOLTS Job Openings at 14:00 GMT. These data sets will provide a first look at the US labour market situation, before the official data is released on Friday.
On Friday, at 12:30 GMT, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate will be released by the Bureau of Labor Statistics.
Hourly Chart
A decline below the 144.00 level could look for support in the 143.50 level. Further below, take into account the weekly S1 simple pivot point at 143.08 and the 143.00 level.
In the case of a resumption of the broader US Dollar's surge against the Japanese Yen, the rate would have to break the resistance of the 144.90/145.10 range. Above the resistance range take into account the weekly R1 simple pivot at 145.22.
USD/JPY daily chart's review
On the daily candle chart, the pair has passed above the upper border of a broad channel up pattern that has guided the USD/JPY up since the start of the year.Most recently, the rate has reached the resistance zone below 146.00. The zone captures a 2022 resistance and support zone. It acted both ways since September up to mid-November.
Daily chart
On Monday, on the Swiss Foreign Exchange traders were 58% 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 63% to buy the USD against the JPY.
On Wednesday, positions were 54% short and orders were 63% to buy.