Yesterday the USDJPY fluctuated violently during the period between GMT 12:30, when economic indicators were announced in the U.S., and GMT 14:00. These movements resulted in the price surging into the 157-yen range, reaching a high of 157.19.

The new home sales for the U.S. in April that were announced at this time came in below expectations at a seasonally adjusted annual rate of 634,000 compared to estimates of 679,000, and at -4.7% month on month compared to forecasts of -2.1% month on month.

Today the USDJPY opened at 156.88 before again rising into the 157-yen range. Shortly after GMT 02:00 the price marked a high of 157.14 yen.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:05 on May 24), the volatility that followed the announcement of yesterday's economic indicators resulted in the price plunging to the -2 standard deviation band at one point, but it subsequently rallied and resumed its upwards trend.

(20-period Bollinger Band, showing ±1 and ±2 standard deviations)

Today's main economic indicators are as follows.

• GMT 12:30 U.S. April durable goods orders (MoM)
• GMT 12:30 U.S. April durable goods orders excluding transportation (MoM)
• GMT 14:00 U.S. May Michigan Consumer Sentiment, final