The USDJPY broke through resistance just below 157 shortly after GMT 17:00, and immediately before the close reached a high of 157.19.

The Consumer Confidence Index (Conference Board) that was announced yesterday came in at 102.0 versus a forecast of 95.9.

Today the USDJPY hit a high of 157.40 just before GMT 01:00, but then reversed.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:25 on May 29), given that the closing price has fallen below the +1 standard deviation Bollinger Band, we could see a decline back to 156 yen.

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

Today's main economic indicators are as follows.

• GMT 14:00 U.S. May Richmond Fed manufacturing index
• GMT 18:00 U.S. Regional FRB economic reports (Beige Book)