Economic Calendar
During the upcoming week, on Tuesday, the US Flash Manufacturing and Services PMIs might impact the financial markets through an adjustment of USD value.
On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy.
On Thursday, the US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to impact the USD.
On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar.
Hourly Chart
A move above the weekly R1 simple pivot point at 136.34 might be slowed down by the 136.50 level, before the pair reaches the combination of the weekly R2 at 137.05 and the 137.00 mark.
However, a decline of the US Dollar against the Japanese Yen might look for support in the 136.00 level and the 135.30/135.50 range. Although, these levels have recently failed to impact the pair. It is more likely that support could be found in the 135.00 mark and the technical indicators that surround it.
USD/JPY daily chart's review
On the daily candle chart, the pair has retraced to find support in the 50-day simple moving average near 133.50. In addition, note the 100-day SMA near 133.00. Meanwhile, the rate previously passed above the 200-day SMA, which failed to act as resistance.In the case of a resumption of the broader surge, the rate could be stopped by the 138.20/139.40 range.
Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 74% 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 61% to buy the USD against the JPY.
On Monday, situation remained almost unchanged. 73% of positions were short and orders were 54% to buy.