Economic Calendar
During the week, minor moves could be created by some data releases. Meanwhile, note that the whole financial market continues to adjust to the latest comments made by the Federal Reserve about monetary tightening.
On Tuesday, the US Durable Goods Orders might impact the USD value at 12:30 GMT.
On Thursday, the US Advance GDP is expected to cause USD volatility across the markets at 12:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
Hourly Chart
If the US Dollar continues to gain value, compared to the Japanese Yen, the currency pair might test the resistance zone at 128.85/129.10. Higher above, the 2022 high level at 129.40 might reverse a surge.
Meanwhile, a potential decline of the Greenback against the Yen might look for support in the 128.00 mark. Near that level, the weekly simple pivot point, the 50, 100 and 200-hour simple moving averages are located at. Further below, note the 127.00 mark.
USD/JPY daily chart's review
On the daily candle chart, the pair has reached above the 2015 High level. In regards to historical levels, note the 2002 high level at 135.00 and the 1998 high at 147.60.Meanwhile, note that this week the pair passed below the trend line, which supported the pair's surge throughout March and April.
Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were short, as 67% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 52% to buy the USD against the JPY.