Yesterday the USDJPY trended down in the first half of the Tokyo session, but after marking a low of 150.89 around GMT 05:30, it began to rise. Around GMT 16:00, it reached a high of 152.18 before the upward momentum stalled, and trading for the day ended at 151.92.

Today the USDJPY marked a low of 151.41 around GMT 03:30, as the domestic corporate price index announced at GMT 23:50 (on December 10) reached its highest level since July last year, triggering yen buying in the market. As of GMT 04:00, it has risen to the upper 151 range.

Looking at the USDJPY 1-hour chart (as of GMT 03:30, December 11), it fell from +2 standard deviations to -2 standard deviations but has since rebounded and is rising. If it continues to approach the middle line, it looks appropriate to maintain an upward bias.

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

Today's main economic indicators are as follows.

• GMT 13:30 U.S. November Consumer Price Index (CPI & Core CPI)