Yesterday the USDJPY reached a high of 144.39 yen at around GMT 07:30, but the rise from the previous day paused. Both the May ADP employment change released at GMT 12:15 and the May ISM services PMI released at GMT 14:00 showed weak results, leading to a sharp drop.

The price hit a low of 142.60 shortly after GMT 16:30, and trading for the day closed at 142.75.

Today the USDJPY reached a low of 142.53 yen shortly after GMT 23:00 [on June 4], then slowly turned to rise, and as of GMT 04:30 is rising around the 143.0 yen level.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:40 on June 5), after consolidating in the low price range, it has been rising toward the middle line. If it clearly breaks above the 143.50 yen area, the recent high of 144.44 yen is likely to become the next target.

(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 Trade balance
• GMT 12:30 U.S. Initial jobless claims for the previous week
• GMT 12:30 U.S. Continuing jobless claims for the previous week