Yesterday the USDJPY began rising from its low of 154.52 directly after the open. Around GMT 12:00, the price hit a high of 155.88. After GMT 14:00, it began to decline but did not fall below 155, and trading for the day closed at 155.38.

Today the USDJPY moved down directly after the open, marking a low of 154.87 around GMT 02:00. As of GMT 04:00, it is trading in a narrow range around 155.00.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on November 21), the candlesticks are moving below the middle line near the -2 standard deviations level. The downward trend appears likely to continue on this timeframe.

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

Today's main economic indicators are as follows.

• GMT 13:30 U.S. November Philadelphia Fed Manufacturing Index
• GMT 13:30 U.S. Initial jobless claims for the previous week
• GMT 13:30 U.S. Continuing jobless claims for the previous week
• GMT 15:00 U.S. October Leading Index
• GMT 15:00 U.S. October Existing home sales