Yesterday the USDJPY hit a low of 157.07 around GMT 00:00, then traded in the lower 157-yen range before turning upward around GMT 11:00.

Following the release of U.S. Initial jobless claims for the previous week at GMT 13:30, which showed better-than-expected results at 219,000 versus the forecast of 223,000, the market responded with dollar buying, reaching a high of 158.08 around GMT 15:00. Trading for the day closed at 157.96 yen.

Today the USDJPY saw dollar selling pressure following Finance Minister Katsunobu Kato's verbal intervention against yen weakness, touching a low of 157.57 around GMT 02:00. As of GMT 04:00, it is trading in the 157.6 range.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:50 on December 27), while the candlesticks temporarily reached -1 standard deviation, the middle line continues to trend upward. If it breaks above 158 again, the trend is likely to pursue even higher levels.

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

There are no closely watched economic indicator announcements today.