Yesterday the USDJPY reached a high of 150.14 yen shortly after GMT 00:00, after which it trended downward. Following the release of the March ISM Manufacturing PMI and February JOLTS Job Openings at GMT 14:00, both of which showed poor results, dollar selling accelerated.

The price bottomed out at 148.97 yen shortly after GMT 15:00, and trading for the day closed at 149.60 yen.

Today the USDJPY continued its upward trend from yesterday, but after reaching a high of 149.95 yen shortly after GMT 02:00, it was pushed back and is trading in the 149.7-yen range as of GMT 04:00. Caution is increasing regarding the mutual tariffs set to take effect today.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on April 2), the price is within yesterday's high and low range, with a narrow band width, indicating a market with directionless trading. Following a breakout in either direction may help limit risk.

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

The main economic indicators for today are as follows:

• GMT 12:15 U.S. March ADP employment change
• GMT 14:00 U.S. February Factory Orders