Yesterday the USDJPY hit a low of 150.06 yen shortly after GMT 04:00, then rose to exceed 151 yen shortly after GMT 12:00. After a temporary pullback, it reached a high of 151.15 yen around GMT 16:30, and trading for the day closed at 151.03 yen.

Today the USDJPY reached a high of 151.21 yen around GMT 00:30, then fell back and hit a low of 150.70 yen shortly after GMT 01:30. As of GMT 04:30, it has risen back to the upper 150-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:50 on March 28), the band width has been narrowing, and there is a possibility that this band width will expand. The middle line is trending upward and it seems appropriate to maintain an upward outlook

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. February Personal Income (MoM)
• GMT 12:30 U.S. February Personal Spending
• GMT 14:00 U.S. March Michigan Consumer Sentiment, final