Yesterday the USDJPY marked 152.83 directly after the open but began trending lower, marking lower highs and lows before dipping below 152 yen shortly after GMT 08:30. The fall paused around GMT 11:00.

At GMT 12:30, U.S. initial jobless claims for the previous week were reported at 227,000, better than the market expectation of 242,000. This prompted dollar-buying in the market, briefly pushing the USDJPY back into the 152-yen range. However, the pair resumed its decline, hitting a low of 151.55 around GMT 17:30 and closing the day at 151.83.

Today, a "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), the USDJPY rose from 151.57 marked around GMT 00:00 to a high of 152.10 shortly after GMT 01:30 before falling back. As of GMT 04:00, it is trading in the upper half of the 151-yen range. With the general election approaching on October 27, the market is in a wait-and-see mode.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on October 25), the decline from the previous day petered out. It is trading closer to the middle line, with contracting bands indicating no clear directional momentum.

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

Today's main economic indicators are as follows.

• GMT 12:30 U.S. September durable goods orders (MoM)
• GMT 12:30 U.S. September durable goods orders excluding transportation (MoM)
• GMT 14:00 U.S. October Michigan Consumer Sentiment, final