Economic Calendar
This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve Manufacturing Index release at 12:30 GMT.
Hourly Chart
A surge above 148.85 could encounter resistance in the 149.00 and 149.50 levels. Higher above, take into account the weekly R1 simple pivot point at 149.98 and the most notable 150.00 mark.
On the other hand, a decline of the rate below 148.40 might look for support in the combination of the 148.00 level and the 50-hour simple moving average, before reaching the weekly simple pivot point at 147.61 and the 147.50 level.
USD/JPY daily chart's review
On the daily candle chart, the rate is above the 1998.00 high level of 147.60.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. The pattern's resistance line has recently kept the rate down.
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 Monday, the positions were already 65% short and pending orders were 58% to sell.