Economic Calendar
On Thursday, note the Core PCE Price Index release at 13:30 GMT. The US monetary policymakers watch this index as a measure of inflation, not the Consumer Price Index.
Afterwards, the US ISM Manufacturing PMI could impact the US Dollar's value at 15:00 GMT.
The week is set to end with the release of the United States employment data at 13:30 GMT. The data release consists of the US Average Hourly Earnings changes, Non-Farm Employment Change and Unemployment Rate.
Hourly Chart
If the rate continues to decline, the pair could look for support in the weekly S2 simple pivot point at 135.59, prior to approaching the 135.00 mark. Further below, there is no technical support. Round levels might act as support.
On the other hand, a recovery of the US Dollar against the Japanese Yen is expected to encounter resistance in the 137.00 level. Higher above, take into account the weekly S1 simple pivot point at 137.33 and the 50 and 100-hour simple moving averages near 138.20.
USD/JPY daily chart's review
On the daily candle chart, the pair has passed below the 200-day simple moving average, which acted as support before the US Fed comments.Next target for the decline could be the 2022 high level at 135.00. Meanwhile, the 200-day SMA might turn into resistance.
Daily chart
On Thursday, on the Swiss Foreign Exchange, traders were 60% 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 52% to buy the USD against the JPY.
On Wednesday, the sentiment was 55% short and orders were 61% to buy.