Yesterday the USDJPY reached 158.41 around GMT 01:30, then turned downward following Finance Minister Katsunobu Kato's statements that pushed the market towards a weaker yen, touching a low of 157.37 around GMT 09:00.

The market responded with buying after strong indicator results were released at GMT 15:00. The price hit a high of 158.42 but failed to extend gains, and trading for the day closed at 158.02.

Today the USDJPY touched a high of 158.24 around GMT 23:30 (on January 7) before temporarily falling back, but as of GMT 04:00 it has recovered.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on January 8), the middle line maintains its upward slope, and the candlesticks are rising while making higher lows. The upward trend appears likely to continue.

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

Today's main economic indicators are as follows.

• GMT 13:15 U.S. December ADP employment change
• GMT 13:30 U.S. Initial jobless claims for the previous week
• GMT 13:30 U.S. Continuing jobless claims for the previous week
• GMT 19:00 U.S. Federal Open Market Committee (FOMC) Meeting Minutes