Yesterday the USDJPY reached 144.40 yen shortly after GMT 23:00 (on May 21) following reports that exchange rate levels were not discussed between U.S. Treasury Secretary Scott Bessent and Finance Minister Katsunobu Kato, but immediately fell back, hitting a low of 142.86 yen around GMT 08:00.

Subsequently, with many U.S. economic indicators released during New York hours showing good results, buying returned to the 144.3-yen range, and trading for the day closed at 144.00 yen.

Today the USDJPY moved weakly with a high of 144.06 yen immediately after the opening, hitting a low of 143.36 yen around GMT 04:30.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on May 23), the decline has paused and the middle line is trending upward, but this is a phase where a range with the recent high as the upper limit is being considered. If the price breaks below 143 yen, there could be further downside momentum.

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

The main economic indicators for today are as follows:

• GMT 14:00 U.S. April New home sales