On Friday of last week the USDJPY moved steadily after reaching a low of 149.09 yen shortly after GMT 02:00.

At GMT 13:30, the U.S. January PCE deflator was announced at 2.5% as expected, and immediately after the announcement, the USDJPY reached a high of 150.98 yen. The meeting between President Trump and President Zelenskyy developed into an argument raising tensions, but trading for the day closed at 150.57 yen without major fluctuations.

Today the USDJPY reached a high of 151.02 yen around GMT 23:30 (on March 2), but dollar buying retreated as concerns over the Ukraine situation eased, and as of GMT 04:00, it is in the lower 150-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on March 3), it is supported around 150.23 yen, and if it breaks below this level, it could head toward the 148-yen range again.

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

The main economic indicators for today are as follows:

• GMT 14:45 U.S. February Manufacturing Purchasing Managers Index (PMI, revised)
• GMT 15:00 U.S. February ISM Manufacturing PMI