Last Friday, the USDJPY traded firmly, with a low of 147.70 yen at the opening. It reached a high of 149.02 yen shortly after GMT 07:00.

The U.S. March University of Michigan Consumer Sentiment (preliminary) released at GMT 14:00 deteriorated to 57.9 against an expected 63.1, after which the pair fell but found support at 148.26 yen. Trading for the day closed at 148.62 yen.

Today the USDJPY touched a low of 148.46 yen around GMT 23:00 (on March 16), then fluctuated while making new highs, and is currently rising in the 148.9 yen range as of GMT 04:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 17), the middle line is almost horizontal, making it difficult to grasp the direction. If it cannot break through the resistance at 149 yen, there is a possibility that the price could turn downward

The main economic indicators for today are as follows:

• GMT 12:30 U.S. March NY Empire State Manufacturing Index
• GMT 12:30 U.S. February Retail sales
• GMT 14:00 U.S. January Corporate inventory
• GMT 14:00 U.S. March NAHB Housing Market Index