Yesterday the USDJPY continued to rise immediately after the opening, reaching a high of 150.14 yen around GMT 14:00.

At GMT 18:00, the FOMC announced that it would keep the interest rate unchanged, but USDJPY fell sharply as there were concerns about a slowdown in the U.S. economy, including a significant downward revision to this year's GDP outlook. Trading for the day closed at a low of 148.60 yen shortly after GMT 20:30.

Today the USDJPY hit a low of 148.18 yen shortly after GMT 02:00, and as of GMT 04:00, it is trading in the lower 148-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 20), volatility has expanded rapidly, and it has entered a downward Bollinger Band walk. If it breaks below 148 yen, it is likely to chase even lower prices.

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. Initial jobless claims for the previous week
• GMT 12:30 U.S. Continuing jobless claims for the previous week
• GMT 14:00 U.S. February Leading Index
• GMT 14:00 U.S. February Existing home salesChairman Jerome Powell