Yesterday was a nervous day of trading for the USDJPY, with the price spiking up and down several times over the course of the day before breaking into 155-yen territory shortly after GMT 12:00. This constituted a 34-year high for the USDJPY, but the price continued to move upward and shortly after GMT 17:30 it hit another high of 155.37 yen.

Today the USDJPY fell just slightly to 155.19 directly after the open, but in a replay of yesterday's movement it then continued to rise and a little before GMT 05:00 it hit a high of 155.51 yen.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:50 on April 25), the price is moving between the +1 and +2 standard deviation Bollinger Bands, and is walking along the upper band.

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

Today's main economic indicators are as follows.

• 12:30 U.S. Real gross domestic product (GDP), Q1 (preliminary, % QoQ)
• 12:30 U.S. PCE Price Index, Q1 (preliminary, % QoQ)
• 12:30 U.S. Core PCE Price Index, Q1 (preliminary, % QoQ)
• 12:30 U.S. Initial jobless claims for the previous week
• 12:30 U.S. Continuing jobless claims for the previous week
• 14:00 U.S. March Pending Home Sales (MoM)
• 14:00 U.S. March Pending Home Sales (YoY)

Tomorrow Bank of Japan Governor Kazuo Ueda will hold a press conference. In the event that the disparity in interest rates between the United States and Japan is mentioned, the USDJPY could see some significant movement.