Economic Calendar
On Tuesday, the US Consumer Price Index and Core Price Index are set to impact the markets through the US Dollar's value adjusting to US rate hike expectations. Namely, too high inflation is set to strengthen the USD, as the markets would expect higher rate hikes.
On Wednesday, at 12:30 GMT, the US Producer Price Index and Core Producer Price Index data will also impact the US Dollar.
Additional data will be published on Thursday, as the US Retail Sales and Core Retail Sales are set to be released at 12:30 GMT.
Hourly Chart
A continuation of the USD recovery against the Japanese Yen might encounter resistance in round price levels. Namely, there is no technical resistance as high as 145.01 that could impact the pair. Moreover, it appeared on Monday that the rate is ignoring both the moving averages and the weekly simple pivot points.
Meanwhile, a decline of the currency pair is also set to look for support in round price levels. However, the 200-hour SMA near 141.54 and the weekly S1 simple pivot point at 140.11 might act as support.
USD/JPY daily chart's review
On the daily candle chart, the pair clearly trades above the July high level zone. If the surge extends, the rate could eventually aim for the 1998 high level at 147.60.However, a potential extension of the pair's decline is expected to look for support in the 140.00 mark and the July high level zone at 138.60/139.40.
Daily chart
This week, on the Swiss Foreign Exchange, traders were 69% 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.