On Friday of last week, the USDJPY hit a low of 148.58 shortly after GMT 23:30 (on March 20), then turned upward, reaching a high of 149.66 around GMT 07:00. However, it did not continue to rise but fell back, dropping to the 148.6 level around GMT 13:00 before buying resumed, and trading for the day closed at 149.29 yen.

Today the USDJPY has been trending, reaching a high of 149.95 shortly after GMT 01:30, but did not exceed 150. 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 04:40 on March 24), it has been pushed back just short of 150, but if it breaks above this level, it could extend higher after a pullback.

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

Today's main economic indicators are as follows.

• GMT 13:45 U.S. March Manufacturing Purchasing Managers Index (PMI, preliminary)
• GMT 13:45 U.S. March Services Purchasing Managers Index (PMI, preliminary)
• GMT 13:45 U.S. March Composite Purchasing Managers Index (PMI, preliminary)