Yesterday the USDJPY temporarily fell below 149, but traded within the lower 149-yen range. Shortly after GMT 12:00, it declined to a low of 148.09, but rose from there. Shortly after GMT 21:30, it reached a high of 149.87, and trading for the day closed at this high.

Today the USDJPY reached 149.57 shortly after GMT 00:00, rising ahead of President Trump's speech. Shortly after GMT 01:30, it hit a high of 150.18, and as of GMT 04:00, it is trading in the upper 149-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 5), the support line at around 150.20 has become a resistance line. If it breaks above this level, an upward trend may develop in the short-term.

The main economic indicators for today are as follows:

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