Economic Calendar
On Friday, at 12:30 GMT, the US employment data will impact the USD and all rates that involve it. The release will consist of the US Average Hourly Earnings change, Non-Farm Employment Change and the official Unemployment Rate.
Next week, watch out for the US Consumer Price Index at 12:30 GMT. The inflation data will reveal whether the Fed is managing to fight inflation or not.
On August 11, the markets will look at the UK GDP for signs of recession at 06:00 GMT and the US Producer Price Index at 12:30 GMT to analyse potential consumer price increases in the future.
Hourly Chart
A move above 143.00 level could be slowed down by the 143.50 and 144.00 levels. Note that the 144.00 mark is strengthened by the weekly R2 simple pivot point at 144.09. Higher above, the June high level zone is set to act as resistance at 145.00.
In the case of a decline of the US Dollar against the Yen, expect the pair to look for support in the 141.50/142.00 range and the 200-hour simple moving average. Meanwhile, it appears that previously the 142.50 level and the 100-hour SMA were ignored as support
USD/JPY daily chart's review
On the daily candle chart, the pair found support in the 100-day simple moving average. The technical indicator acted as support two times and appears to have caused the recent recovery of the US Dollar against the Yen.More recently, the rate ignored the resistance and support of the 50-day simple moving average. It appears it is incapable of impact the USD/JPY. The rate is heading to the resistance zone at 145.00/146.00.
Daily chart
On Thursday, traders were bearish on USD/JPY, as 63% 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 61% to buy.
On Friday, 61% of positions were short and orders were 63% to buy.