Yesterday the USDJPY reached a high of 146.75 yen shortly after GMT 00:00 before declining, falling below 146 yen around GMT 03:30.

Multiple U.S. economic indicators were released around GMT 12:30, but after fluctuating up and down, no clear direction emerged, and trading for the day closed at 145.65 yen.

Today the USDJPY reached a high of 145.68 yen shortly after GMT 23:30 (on May 15) before declining, touching a low of 144.96 yen around GMT 01:00. As of GMT 05:00, the decline has paused, and the price is moving in the lower 145-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on May 16), the middle line is sloping downward, forming a downward band walk. If it falls below 145 yen again, the downward trend is likely to continue.

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. April Housing starts
• GMT 12:30 U.S. April Building permits
• GMT 14:00 U.S. May Michigan Consumer Sentiment, preliminary
• GMT 20:00 U.S. March Total net TIC flows