Economic Calendar
On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell revealed last week that he is watching this index as a measure for inflation not the Consumer Price Index.
Hourly Chart
A move above the 145.00 level might result in the rate finding resistance in the 145.50 and 145.75 levels. However, it is currently unclear at which point would the Bank of Japan once again intervene and beat the rate down, or would the policymakers allow the Yen to depreciate.
On the other hand, a bounce off from the resistance zone is expected to look for support in the 144.00 level and the 50-hour simple moving average. Further below, the 143.50 level and the 100 and 200-hour SMAs might stop a decline of the USD against the Japanese Yen.
USD/JPY daily chart's review
On the daily candle chart, the pair pierced the 145.00 mark and was heading to 1998 levels. It appears that the 145.00 level is where the central bank draws its line and starts to beat the rate down.Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were 74% short 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 51% to buy the USD against the JPY.
On Tuesday, the positions were 75% short and orders were 60% to buy.