Yesterday the USDJPY rose directly after the open, reaching a high of 150.75 shortly after GMT 05:00. After trading in the lower 150 yen range, it fell shortly after GMT 15:00, reaching a low of 149.08, and ended the day's trading at 149.58.

Today the USDJPY, perhaps as a reaction to yesterday's yen strength and dollar weakness, has risen from its low of 149.49 marked shortly after GMT 23:30, exceeded 150 after GMT 03:30, and as of GMT 04:00 is continuing to rise in the lower 150 range.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:50, December 3), it has broken above the middle line and is approaching +1 standard deviation. If it breaks above yesterday's high of 150.75, it looks likely to extend even further.

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

The main economic indicators for today are as follows:

• GMT 15:00 U.S. October JOLTS Job Openings