On Friday of last week the USDJPY reached a new high of 161.28 shortly after GMT 01:30, but subsequently reversed. Despite hitting a low of 160.26 yen some time after GMT 13:30, it then rose to end the week's trading mark at 160.83.

Today the USDJPY trended up during Tokyo trading hours, reaching a high of 161.18 shortly before GMT 01:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:25 on July 1), the price has rebounded from the support provided by the low set in bottom half of the 160-yen range, and seems to be moving in a way that could again result in new highs.

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

Today's main economic indicators are as follows.

• GMT 13:45 U.S. June Manufacturing Purchasing Managers Index (PMI, revised)
• GMT 14:00 U.S. June ISM Manufacturing PMI