Yesterday the USDJPY started with a gap down at 145.20 yen, reaching a high of 145.45 yen around GMT 22:00 (on May 18), after which it traded weakly.

Around GMT 10:30, the price touched a low of 144.66 yen, then traded in a range around 145.0 yen, and trading for the day closed at 144.84 yen.

As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY rose following Finance Minister Katsunobu Kato's statement that he would discuss exchange rates with Scott Bessent, reaching a high of 145.51 yen shortly after GMT 00:00, then declining. Shortly after GMT 01:00, it reached a low of 144.72 yen, and as of GMT 04:00, it is trading in the upper 144-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on May 20), the momentum of recovery is weak, with support around 144.70 yen, showing a sell-dominated but somewhat directionless movement. If it clearly breaks below this line, the downward trend is likely to continue.

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

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