Yesterday the USDJPY lacked direction immediately after opening, but it turned upward after hitting a low of 143.44 yen shortly after GMT 02:30.

President Trump issued a statement on the U.S.-UK trade agreement, which strengthened the dollar, and it reached a high of 146.17 yen shortly after GMT 19:00. Trading for the day closed at 145.91 yen.

Today the USDJPY reached a high of 146.18 yen shortly after GMT 00:00, then shifted to a gradual decline, hitting a low of 145.46 yen around GMT 03:00. As of GMT 04:00, it is trading in the upper 145-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on May 9), the upward trend continues, but after reaching +2 standard deviations, an adjustment has occurred with a pullback, suggesting a phase where buying on dips is being considered. As long as it does not clearly break below the middle line, it seems appropriate to maintain an upward outlook.

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

Today, no closely watched economic indicators are scheduled for release.