Yesterday the USDJPY reached a high of 155.52 shortly after GMT 08:00, and traded within the lower 155-yen range.

The market reacted to poor results from the December JOLTS Job Openings by selling dollars. The price hit a low of 154.17 shortly after GMT 18:00, and trading for the day closed at 154.33.

Today the USDJPY marked a high of 154.46 directly after opening, then declined. Risk aversion from the U.S.-China trade war and speculation about early Bank of Japan rate hikes have sustained yen buying, reaching a low of 153.09 at GMT 03:30.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on February 5), the width of the Bollinger Bands is expanding, indicating a downward trend along the Bollinger Bands. If it breaks below 153, there is potential for movement targeting 150.

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

The main economic indicators for today are as follows:

• GMT 13:15 U.S. January ADP employment change
• GMT 14:45 U.S. January Purchasing Managers Index (PMI)
• GMT 15:00 U.S. January ISM Services PMI