Yesterday the USDJPY started by opening with a gap down from the high of 147.85 yen. The dollar was sold off, leading to a decline, after President Trump refused to deny the possibility of a U.S. recession, reaching a low of 146.63 yen around GMT 14:30.

Afterward, some buyback activity emerged, and trading for the day closed at 147.16 yen.

Today the USDJPY fell directly after the open, and hit a low of 146.54 yen shortly after GMT 23:30 (on March 10). From there, it rose to reach a high of 147.22 yen shortly after GMT 03:00, but then fell back, and as of GMT 05:00, it is trading around 147.0 yen.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 11), it continues to make lower lows while fluctuating. The trend of not being able to exceed the previous day's high continues, so it seems appropriate to maintain a downward perspective.

The main economic indicators for today are as follows:

• GMT 14:00 U.S. January JOLTS Job Openings