On Friday of last week the USDJPY reached a high of 157.56 around GMT 23:30 (on January 2), then moved within a range in the lower 157-yen level.

The U.S. December ISM Manufacturing PMI was announced at GMT 15:00, coming in at a bullish 49.3 against a forecast of 48.4, but the market reaction was limited. After hitting a low of 156.91 shortly after GMT 17:00, trading for the week ended at 157.26.

Today the USDJPY hit a high of 157.82 around GMT 00:30 before being pushed back, and as of GMT 04:00, it is rising toward today's high.

Looking at the 1-hour chart of the USDJPY chart (as of GMT 04:00 on January 6), the width of the Bollinger Bands was expanding. On this timeframe, as it is showing an upward Bollinger Band walk, an upward trend appears likely.

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

Today's main economic indicators are as follows.

• GMT 14:45 U.S. December Services Purchasing Managers Index (PMI)
• GMT 14:45 U.S. December Composite Purchasing Managers Index (PMI)
• GMT 15:00 U.S. November Factory Orders