Economic Calendar
This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT.
On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing PMI caused a broad decline of the US Dollar.
Above all, on Friday, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to move the markets.
Hourly Chart
A move above the 145.00 level might result in the rate finding resistance in the 145.50 and 145.75 levels and the weekly R1 and R2 simple pivot points at 145.34 and 145.98. 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 decline below the 144.50 level and the 50 and 100-hour simple moving averages could find support in the weekly simple pivot point at 144.26 and the 200-hour simple moving average. Further below, note the 144.00 level's support.
USD/JPY daily chart's review
On the daily candle chart, the pair pierced the 145.00 mark and was heading to 1998 levels, before the BoJ intervened. 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 Friday, 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 60% to sell the USD against the JPY.
On Monday, the positions were 73% short and orders were 55% to sell.