Economic Calendar
On Friday, take into account the US Markit Services and Manufacturing Purchasing Managers Index release at 13:45 GMT. The rate might be impacted through the USD value reacting to the publication.
Hourly Chart
A resumption of the USD surge against the Japanese Yen is expected to encounter minor resistance in the 138.50 mark and the 50-hour simple moving average near 138.70. Higher above, the high levels near 139.40 are set to once again impact the currency pair.
However, an extension of the ongoing decline might look for support in the 137.50 mark, the 200-hour simple moving average near 137.10 and the 137.00 level.
USD/JPY daily chart's review
On the daily candle chart, the rate has resumed its 2022 surge, which appears to have been occurring in a wide channel up pattern.Daily chart
On Monday, on the Swiss Foreign Exchange, traders were 72% 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 53% to buy the USD against the JPY.