The US dollar-Japanese yen rate failed to show any energy throughout yesterday's session, hitting a low of 151.20 yen after 6 p.m. before rising to touch 151.60 before 1 a.m., after the change of date.

The March Consumer Confidence Index (Conference Board) undershot expectations, with an announced figure of 104.7 compared to an forecast of 107.0.

For a short while after opening at 150.51 today the yen showed no clear trend, but the price began to rise sharply after 10 a.m., and shortly after 11:30 a.m. made a new recent high of 151.96 yen, although only barely. However, this was followed by a V-shaped downward reversal.

The 60-minute chart of the yen (as of 13:55 on March 27) shows the sudden increase in the morning resulting in the price breaking through the upper +2 SD line of the Bollinger Band. It promptly returned to the vicinity of the +1 SD line, but the middle line is on a rising trend.

(20-period Bollinger Band, showing +1 SD, +2 SD)

No closely watched economic indicators or comments by influential individuals are scheduled for today. The market may increasingly incline towards a wait-and-see mood ahead of the announcement of Personal Consumption Expenditures (PCE) on Friday.