Yesterday the USDJPY rose until just before GMT 00:00, but it then reversed and declined to a low of 141.64 shortly after GMT 06:00. At that point the yen buying stalled and the market began to rise again.

After FRB Chairman Jerome Powell commented at his press conference some time after GMT 18:00 that the FOMC is not "in a hurry" to cut interest rates, the yen hit a high of 143.91.

However, it did not break above the 144-yen level, and trading for the day closed at 143.61.

Today the USDJPY inherited the trend of the previous day and continued to rise during the morning session.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:45 on October 1), the price has begun to band walk between the +1 and +2 standard deviations, and continues to rise at a steady pace.

As of slightly before GMT 05:00 it was trading in the middle of the 144-yen range.

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

Today's main economic indicators are as follows.

• GMT 13:45 U.S. September Manufacturing Purchasing Managers Index (PMI, revised)
• GMT 14:00 U.S. September ISM Manufacturing PMI
• GMT 14:00 U.S. August JOLTS Job Openings

Today will see the announcement of JOLTS, which is also related to the employment statistics scheduled for the end of the week.