On Friday of last week, the USDJPY reversed after touching a low of 150.81 in the morning, and recovered to break above the 151-yen level during London trading hours.

After the announcement of the U.S. employment figures at GMT 12:30, which were better than expected, the yen had reached a high of 151.75 by around GMT 13:00.

Today, the USDJPY began the week by opening at 151.56 and then rising little by little until by around GMT 03:30 it was trading in the region of 151.70.

Looking at the 1-hour chart of the USDJPY (as of GMT 07:45 on April 8), the price seems to be on a Bollinger Band walk between the +1 and +2 SD bands, which suggests stronger buying than selling going forward.

We could also very quickly see the price testing the recent high of 151.95 yen.

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