Economic Calendar
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
In the case of the resistance zone being broken, the pair could face resistance in the 139.00 mark and the weekly R1 simple pivot point at 139.18. Higher above, note 139.50 and 140.00 levels.
Meanwhile, a decline would have to pass below the 50 and 100-hour simple moving averages near 138.30. Further below, take into account the 138.00 mark and the support zone at 137.50/137.80.
USD/JPY daily chart's review
On the daily candle chart, the pair has reached the 138.20/139.40 range. Namely, the pair has reached a high level not seen since December 2022.The high and low level range might act as resistance and force the USD/JPY into a decline.
Daily chart
On Wednesday, on the Swiss Foreign Exchange traders were 73% 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 54% to buy the USD against the JPY.