Yesterday the USDJPY trended down in the Tokyo session, marking a low of 152.75 at around GMT 05:30. However, from there it began to rebound, reaching a high of 153.86 at GMT 12:30.

The Job Openings and Labor Turnover Survey (JOLTS) for September that was announced at GMT 14:00 was weak, coming in at 7.443 million compared to expectations of 8.0 million. The USDJPY briefly fell below 153, but recovered promptly to finish the day's trading at 153.34.

Today the USDJPY moved down directly after the open, but after hitting 153.07 some time after GMT 00:00 it bottomed out, and as of GMT 04:00 it was trading in the lower half of the 153-yen range without a clear sense of direction.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on October 30), the price is forming a rising triangle bounded on the upside by resistance around the high of 153.88 set on October 28. Traders need to focus on whether the price can break above this recent high.

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

Today's main economic indicators are as follows.

• GMT 12:15 U.S. October ADP employment change (MoM)
• GMT 12:30 U.S. Real gross domestic product (GDP), Q3 (preliminary, % QoQ)
• GMT 12:30 U.S. PCE Price Index, Q3 (preliminary, % QoQ)
• GMT 12:30 U.S. Core PCE Price Index, Q3 (preliminary, % QoQ)