Economic Calendar
On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar.
Next week, watch for the US ISM Manufacturing PMI on Thursday at 14:00 GMT and the Friday's release of the US Unemployment data at 12:30 GMT.
Hourly Chart
A resumption of the USD surge against the Yen could be slowed down by the 140.00 mark and the combination of the weekly R2 simple pivot point at 140.52 and the 140.50 level. Higher above, note the round levels of 141.00 and 141.50.
However, in the case of a decline of the USD, the pair would have to pass the 139.50 mark and the 50-hour SMA. Further below, note the weekly R1 simple pivot point at 139.18 and the 100-hour SMA near the 139.00 mark. In addition, 138.90/138.95 zone has been acting as support and resistance. In the case of these support levels failing, the 138.50 mark and the 200-hour SMA might act as additional support.
USD/JPY daily chart's review
On the daily candle chart, the pair has passed above the 138.20/139.40 range. The pair trades at new 2023 high levels.In the near term future, the rate needs to confirm the prior resistance as support and pass the 140.00 mark, before approaching the upper trend line of the channel up pattern, which captures the 2023 surge.
Daily chart
On Wednesday, on the Swiss Foreign Exchange traders were 73% bearish, 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 54% to buy the USD against the JPY.
On Thursday, positions were 74% short and orders were 56% to buy.
On Friday, traders were 73% short, but orders were 58% to buy.