Yesterday the USDJPY started at 147.69 yen. It did not exceed this high and continued to decline throughout the day. The U.S. CPI announced at GMT 12:30 also showed poor results, and the currency hit a low of 144.01 yen shortly after GMT 15:30.

The decline stopped just before breaking below 144 yen, and trading for the day closed at 144.44 yen.

Today the USDJPY accelerated its decline as President Trump warned Mexico of additional tariffs regarding a water treaty. Around GMT 00:30, it hit a low of 142.88 yen. As of GMT 04:00, it continues to fall in the low 143-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on April 11), the downward trend continues. If it breaks below 142 yen, it could potentially reach the 140-yen range.

(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 Producer Price Index (PPI)
• GMT 12:30 U.S. March Producer Price Index (core PPI excluding food and energy)
• GMT 14:00 U.S. April Michigan Consumer Sentiment, preliminary