Yesterday the USDJPY reached a low of 148.74 yen around GMT 23:30 (on February 26) and moved steadily.

Entering NY hours, President Trump announced that tariffs on Canada and Mexico and additional tariffs on China would be implemented from March 4. The market moved toward a stronger dollar, reaching a high of 150.16 yen shortly after GMT 15:00, but it did not pursue higher prices, and trading for the day closed at 149.80 yen.

Today yen selling strengthened following the weak results of the February Tokyo Metropolitan Area CPI announced at GMT 23:30 (on February 27), reaching a high of 150.14 yen around GMT 00:00, but reached a low of 149.09 yen shortly after GMT 02:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 28), it continues to show directionless movement, fluctuating from the upper 148-yen range to the 150-yen range.

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

The main economic indicators for today are as follows:

• GMT 13:30 U.S. January Personal Income
• GMT 13:30 U.S. January Personal Spending
• GMT 14:45 U.S. February Chicago Purchasing Managers Index