Yesterday the USDJPY hit a low of 149.69 around GMT 00:30, then broke away from consolidation near 150 yen around GMT 05:00 and began to rise. The market showed a yen-selling reaction to reports that China would shift its monetary policy stance toward easing.

After consolidating in the mid-150 range for a while, the USDJPY rose again around GMT 12:00, reaching a high of 151.34 shortly after GMT 17:30. Trading for the day closed at 151.16 yen.

Today the USDJPY reached a high of 151.54 around GMT 01:00 before declining, and as of GMT 04:00 is trading in the lower 151 range.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:50 on December 10), the upward Bollinger Band walk has ended, breaking below +1 standard deviation and approaching the middle line. If it breaks below 151, the decline is likely to gain momentum.

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

Today, no closely watched economic indicators are scheduled for release.