Yesterday the USDJPY started falling after hitting a high of 155.39 directly after the open. Around GMT 15:00, it reached a low of 153.90, driven by stronger yen buying following Bank of Japan Governor Kazuo Ueda's comments about multiple data releases before December's Bank of Japan Monetary Policy Meeting, and reports of Russia's ICBM launch. Trading for the day closed at 154.11 yen.

Today the USDJPY touched a low of 153.96 around GMT 00:00, but as of GMT 04:00, it continues to trade in a range-bound market in the lower 154-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 22), the middle line is approaching horizontal, and the band width is contracting, indicating that the market has become trendless over the period shown.

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

Today's main economic indicators are as follows.

• GMT 14:45 U.S. November Manufacturing Purchasing Managers Index (PMI, preliminary)
• GMT 14:45 U.S. November Services Purchasing Managers Index (PMI, preliminary)
• GMT 14:45 U.S. November Composite Purchasing Managers Index (PMI, preliminary)
• GMT 15:00 U.S. November Michigan Consumer Sentiment, final