Yesterday the USDJPY reached a high of 150.30 yen after GMT 01:00, then turned downward, and fluctuated in the upper 149-yen range until New York trading hours.

When the February Consumer Confidence Index was announced at GMT 15:00, the result was only 98.3 against a forecast of 102.5, and the market reacted with selling. Around GMT 15:30, the price touched a low of 148.56, and trading for the day closed at 149.02.

Today the USDJPY turned upward after hitting a low of 148.62 yen shortly after GMT 23:00 (on February 25), and as of GMT 04:00, it is moving in the mid 149-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on February 26), it is moving without a clear direction and has not been able to exceed 150 yen. If it breaks below the recent low of 148.56 yen, the downward momentum may strengthen. The downward trend appears likely to continue.

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

The main economic indicators for today are as follows:

• GMT 15:00 U.S. January New home sales