Chart - Courtesy Trading View
USD/JPY was trading 0.85% higher on the day at 138.67 at around 08:55 GMT.
A pledge from Federal Reserve chair Jerome Powell to keep interest rates higher in a bid to bring down surging inflation buoyed the dollar across the board.
The dollar index was trading at 109.27, slightly lower from a new two-decade peak of 109.478 hit earlier in the trading session.
U.S. payrolls data due Friday will be key, a strong labor market report may give the Fed additional room to maintain its current pace of tightening.
USD/JPY is extending bounce off daily cloud support. Technical indicators support further upside in the pair.
The major has retraced most of the previous months' losses and is on track to close the month with over 4% gains.
Major Support Levels:
S1: 137.27 (5-DMA)
S2: 135.93 (21-EMA)
Major Resistance Levels:
R1: 138.68 (Upper BB)
R2: 139
Summary: USD/JPY was trading with a bullish bias. Weakness only below cloud.


FxWirePro: GBP/AUD recovers some ground, geopolitics holds center stage
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/JPY remains in familiar place on intervention threat
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD recovers some ground but bearish outlook persists
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro: AUD/USD eases amid uncertainty over the U.S.–Iran standoff
FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key
FxWirePro- Woodies pivot (Major)
NZDJPY Dips to 95.10: Bulls Buy the Pullback as Key 93.50 Support Keeps Uptrend Intact
FxWirePro: GBP/USD remains range-bound amid growing Middle East instability concerns
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: USD/ZAR sell bias remains below key resistance zone
FxWirePro- Major Pair levels and bias summary
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data 



