Economic Calendar
On Friday, at 12:30 GMT, the US Retail Sales data could also impact the financial markets.
Hourly Chart
A move higher could encounter resistance in the weekly R3 simple pivot point at 147.85 and the 148.00 level. Higher above, note the 148.50 and 149.00 levels.
On the other hand, a decline of the pair is expected to look for support in 147.50 and the combination of the 147.00 level and the 50-hour simple moving average. Further below, take into account the weekly R2 simple pivot point at 146.64.
USD/JPY daily chart's review
On the daily candle chart, the rate is above the 1998.00 high level of 147.60. Meanwhile, the surge, which has occurred since August has been marked in a channel up pattern. Meanwhile, the whole 2022 surge has been guided by a large scale channel.Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 68% 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 75% to sell the USD against the JPY.
On Thursday, the positions were already 71% short and pending orders were 56% to sell.