Economic Calendar
On Wednesday, watch out for the US Consumer Price Index release at 12:30 GMT. The US inflation data is bound to impact the US Dollar's value.
On the same day, at 18:00 GMT, the US Federal Reserve Meeting Minutes could cause a market reaction with new information on US monetary policy.
On Thursday, at 12:30 GMT, US inflation at the producer level will be revealed. The US Producer Price Index is set to be released at that time.
On Friday, the US Retail Sales data might cause a reaction in the financial markets at 12:30 GMT.
Hourly Chart
A decline below 133.00 and the 50-hour SMA might look for support in the 132.50 level and the 200-hour simple moving average. Further below, the weekly simple pivot point at 132.20 and the 100-hour simple moving average could stop the pair's decline.
In the case of a potential surge of the currency pair, the 133.50 level and the weekly R1 simple pivot point at 133.72 might slow down a surge, prior to the rate reaching the 134.00 mark.
USD/JPY daily chart's review
On the daily candle chart, the pair is back at the support of 130.00/131.40. A move below the zone might aim at the 2023 low at 127.30.Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were 65% 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 70% to buy the USD against the JPY.