Yesterday the USDJPY reached a high of 161.74 before GMT 05:00, then fell back to record a low of 161.26 shortly after GMT 13:00.

Having fluctuated within the 161-yen range throughout the day, volatility did not increase significantly.

Today the USDJPY trended upward after opening at 161.40, and some time after GMT 03:30 marked a high of 161.65.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on July 3), it seems that the previous high of 161.28 has flipped to become support.

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

Today's main economic indicators are as follows.

• GMT 12:15 U.S. June ADP employment change (MoM)
• GMT 12:30 U.S. May Trade balance
• GMT 12:30 U.S. Initial jobless claims for the previous week
• GMT 12:30 U.S. Continuing jobless claims for the previous week
• GMT 13:45 U.S. June Services Purchasing Managers Index (PMI, revised)
• GMT 13:45 U.S. June Composite Purchasing Managers Index (PMI, revised)
• GMT 14:00 U.S. May Factory Orders (MoM)
• GMT 14:00 U.S. June ISM Services PMI
• GMT 18:00 U.S. Federal Open Market Committee (FOMC) Meeting Minutes

A sense of anticipation has been building gradually ahead of Friday's employment statistics, and July 4 is a market holiday in the United States. For that reason, sentiment among traders is such that major rises or falls in the price appear unlikely.