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
An extension of the ongoing decline might look for support in the 133.50 level, the weekly S1 simple pivot point at 133.37, the 133.00 mark and weekly S2 at 132.67.
However, a recovery of the US Dollar against the Yen is set to face resistance in the weekly simple pivot point and the 50 and 100-hour simple moving averages at 134.25. Higher above, note the 135.00 mark and the weekly R1 pivot point.
USD/JPY daily chart's review
On the daily candle chart, the pair has 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.
On Tuesday, the positions were 56% short and orders were 55% to buy.