Yesterday the USDJPY rose from the morning session, and between GMT 05:00 and GMT 06:00 it hit a high of 155.74 yen.

The price subsequently remained in the 155-yen range, but oscillated violently just after GMT 12:30, when economic indicators were announced in the U.S.

One of these was the preliminary figure for real gross domestic product in Q1, which came in at an annualized rate of 1.6% compared to a forecast of 2.4%.

As today was the second day of the Bank of Japan's Monetary Policy Meeting there was an announcement regarding the benchmark rate, but as expected there was no further hike. The USDJPY soared in response, breaking through the 156-yen level.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:25 on April 26), the upper and lower Bollinger Bands, which had previously been contracting, get wider all at once.

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

Today's main economic indicators are as follows.

• 12:30 U.S. March Personal Income (MoM)
• 12:30 U.S. March Personal Consumption Expenditures (PCE, MoM)
• 12:30 U.S. March Personal Consumption Expenditures (PCE deflator, YoY)
• 12:30 U.S. March Personal Consumption Expenditures (PCE core deflator, excluding food and energy, MoM)
• 12:30 U.S. March Personal Consumption Expenditures (PCE core deflator, excluding food and energy, YoY)
• 14:00 U.S. April Michigan Consumer Sentiment, final

Of the economic indicators scheduled to be announced today, Personal Consumption Expenditures (PCE) is one of the more closely watched.