Yesterday the USDJPY continued its downward trend, reaching a low of 143.99 yen around GMT 12:30.

However, U.S. President Trump announced a 90-day suspension of reciprocal tariffs, and the rate surged shortly after GMT 17:00. It reached a high of 148.27 yen around GMT 18:00, and trading for the day closed at 147.69 yen.

Today the USDJPY has seen adjustment selling from the previous day, and as of GMT 04:30, it is trading in the 146.5-yen range. The U.S. has strengthened tariffs against China, and the risk of Chinese retaliation is weighing on the upside.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:40 on April 10), it is in an adjustment phase after the surge, making it difficult to read the directional trend on this time frame.

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. March Consumer Price Index (CPI)
• GMT 12:30 U.S. March Consumer Price Index (Core CPI)
• 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 18:00 U.S. March Monthly Budget Statement