Last Friday, the USDJPY started to trend downward from around GMT 23:30 (Thursday). Even after maintenance of the policy rate was announced at the Bank of Japan's policy rate meeting just before GMT 03:00, the decline continued, hitting a low of 141.73 around GMT 06:30 when Governor Ueda's press conference began.

During the press conference, Governor Ueda indicated that he would not raise interest rates immediately. The USDJPY reversed course during the press conference and continued to rise, reaching a high of 144.49 just after GMT 15:00. However, the rise paused there, and the week's trading ended at 143.75.

Today's Tokyo market is closed for Autumnal Equinox Day. Although it rose from the opening session until around GMT 01:00, it has been moving in the 144 range since then.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on September 23), it is being held down by the recent high of 144.45.

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

The main economic indicators for today are as follows:

• GMT 13:45 U.S. September Manufacturing Purchasing Managers' Index (PMI, preliminary figures)
• GMT 13:45 U.S. September Services Sector Purchasing Managers' Index (PMI, preliminary figures)
• GMT 13:45 U.S. September Composite Purchasing Managers' Index (PMI, preliminary figures)