On Friday of last week, the USDJPY hit a low of 155.11 at around GMT 07:30, then rose gradually. After the U.S. employment statistics were announced at GMT 12:30 the yen surged, and at about GMT 14:00 it reached a high of 157.07.

The part of the employment statistics that caught the market's attention was the change in nonfarm payrolls, which showed growth of 272,000 month on month, considerably larger than the 185,000 increase forecast. However, the unemployment rate also increased. Average hourly earnings rose 0.4% month on month compared to a forecast of 0.3%, and increased 4.1% year on year compared to an expectation of 3.9%.

Today the USDJPY inched up after the open, marking a high of 157.19 slightly before GMT 04:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:30 on June 10), the pullback in response to the surge seen on Friday has been limited, and the price has continued to rise along the +1 standard deviation Bollinger Band.

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

No closely watched economic events are scheduled for today.

Numerous significant events are scheduled for the next five days, including the FOMC, CPI, and Bank of Japan Monetary Policy Meeting, suggesting that it will be an important week.