Yesterday the USDJPY fell below 152 as the market reacted with selling after Japanese GDP data, released at GMT 23:30 (on February 16), showed positive results.

The price recovered to 151.94 around GMT 08:00, but then declined again, touching a low of 151.34 after GMT 15:30, and trading for the day closed at 151.48.

Today the USDJPY saw buying activity around GMT 23:00 (on February 17) after U.S. Federal Reserve Governor Christopher Waller commented that "a pause in rate cuts would be desirable." Shortly after GMT 03:00, the price hit a high of 151.98.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:40, February 18), the price touched -2 standard deviations before reversing upward, but stopped just short of 152. If it breaks above this level, an upward trend may develop.

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

The main economic indicators for today are as follows:

• GMT 13:30 U.S. February NY Empire State Manufacturing Index
• GMT 15:00 U.S. February NAHB Housing Market Index
• GMT 21:00 U.S. December Total net TIC flows