Most of the time it's actually overwatering. Watering once a week is way too much for a Phalaenopsis orchid, especially if the substrate (that tree bark stuff) isn't draining well. These orchids prefer to stay almost dry between waterings - the ideal is to water only when the root turns light grey and is no longer dark green.
That said, light matters quite a bit too. Near a window with no direct sun might be borderline - ideally it would get like 2-3 hours of weak sunlight or be in a really bright spot all day. But before you move it around (which stresses it out too), try changing your watering schedule first. Let the substrate dry out completely, switch to watering every 10-12 days instead of weekly, and keep an eye on the roots if you can. Yellow leaves caused by overwatering won't recover, but new ones will come in green if you fix the problem at the source.
What nobody else mentioned: if the roots are rotting (they get soft and brown), you need to repot it with fresh substrate. That's the biggest trap here.