Yesterday the USDJPY lacked direction immediately after opening, reaching a high of 143.89 yen around GMT 08:00, but yen strengthening and dollar weakening accelerated after entering NY trading hours. Shortly after GMT 20:30 the price reached a low of 141.98 yen and trading for the day closed at this level.

Today the USDJPY has stabilized after yesterday's decline with dollar buybacks occurring, showing firmness despite fluctuations. As of GMT 05:00, it is trading in the upper 142-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on April 29), we can see it has rebounded after the decline and is attempting to reach the middle line. If it breaks above this level, the rise may continue targeting 143 yen, but if pushed back, it could also break below yesterday's low of 141.95 yen.

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

The main economic indicators for today are as follows:

• GMT 13:00 U.S. February Case-Shiller home price index
• GMT 14:00 U.S. March JOLTS Job Openings
• GMT 14:00 U.S. April Consumer Confidence Index (Conference Board)