Economic Calendar
This week, the US Advance GDP release at 12:30 on Thursday is bound to impact the value of the US Dollar.
However, the top event of the week will be the US Core PCE Price Index release at 12:30 GMT. The US Federal Reserve looks at this inflation indicator for future guidance of their monetary policy.
Hourly Chart
In the case of a continuous surge of the USD against the Japanese Yen the pair is set to once again test the 135.00 mark. Note that the round exchange rate level has been strengthened by the weekly R1 simple pivot point. Higher above, note 135.50, weekly R2 at 135.84 and 136.00 levels.
Meanwhile, a potential decline of the US Dollar or strengthening of the Japanese Yen is set to look for support in the combination of the 50 and 100-hour simple moving averages and the weekly simple pivot point at 134.25. Further below, the 134.00 mark and the 200-hour SMA are expected to act as support.
USD/JPY daily chart's review
On the daily candle chart, the pair appears to have moved above the 50 and 100-day simple moving averages. Note the 200-day simple moving average near 137.35, which might act as resistance.Daily chart
On Monday, on the Swiss Foreign Exchange, traders were 55% 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 57% to sell the USD against the JPY.