Economic Calendar
On Friday, the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it is assumed that producer level inflation is followed afterwards by consumer level inflation, which the US policymakers want to reduce.
Hourly Chart
A move below the 136.30 level and the 100-hour simple moving average might look for support in the 136.00 level and the weekly simple pivot point at 135.93. Further below, round price levels could act as support.
On the other hand, a recovery of the pair would first have to breach the 137.00 level and the 50 and 200-hour simple moving averages. Higher above, note the 137.50 level and the Wednesday's high level range at 137.70/137.85.
USD/JPY daily chart's review
On the daily candle chart, the pair has retraced from the 134.00 level up to the resistance of the 200-day simple moving average at 137.40. The SMA is acting as resistance.Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were 60% 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 58% to buy the USD against the JPY.
On Thursday, the sentiment was 63% short and orders were 64% to sell.