On Friday of last week the USDJPY consolidated around the 144.0-yen level. It hit a low of 143.43 yen shortly after GMT 01:00 (previous day) and temporarily rebounded. It reached a high of 144.44 yen shortly after GMT 14:30 but then fell back, and trading for the day closed at 144.00 yen.

Today, amid caution over Trump tariff risks and U.S.-China confrontation, the USDJPY declined from a high of 143.98 yen reached around GMT 22:30 (on June 1), hitting a low of 143.32 yen shortly after GMT 01:30. As of GMT 04:00, it is trading in the upper 143-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on June 2), after moving sideways, the price is trading below -1 standard deviation. Unless it clearly breaks above the middle line, it seems appropriate to maintain a downward outlook.

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

The main economic indicators for today are as follows:

• GMT 13:45 U.S. May Manufacturing Purchasing Managers Index (PMI, revised)
• GMT 14:00 U.S. May ISM Manufacturing PMI
• GMT 17:00 U.S. Statements from FRB Chairman Jerome Powell