Economic Calendar
On June 1, watch the US ISM Manufacturing Purchasing Managers Index release at 14:00 GMT.
On June 2, the United States are scheduled to publish the monthly employment data sets. At 12:30 GMT, the Bureau of Labour Statistics will release the Average Hourly Earnings, Non-farm Employment Change and Unemployment Rate numbers.
On Monday, June 5, the US ISM Services PMI is set to be published and impact the markets though the USD value.
Hourly Chart
In the case of a resumption of the USD surge against the Japanese Yen would have to pass the 140.00 mark and the 50 and 100-hour simple moving average and the 140.89/140.93 zone. Afterwards, new high levels could be reached. Take into account that most likely round levels and weekly simple pivot points are expected to act as resistance.
However, a decline of the USD against the Yen needs to pass the support of the 200-hour SMA and the 138.70/138.90 range. Further below, note other round levels and the 137.50/137.80 zone.
USD/JPY daily chart's review
On the daily candle chart, the pair was confirming previous resistance as support. In the near term future, the pair should resume its surge and approach the upper trend line of the broad channel up pattern.Daily chart
On May 31, 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 58% to buy the USD against the JPY.