Yesterday the USDJPY hit a low of 142.53 yen around GMT 23:00 (on June 4), ending the decline from the previous day and turning upward. A phone call between U.S. President Trump and Chinese President Xi Jinping was reported, with expectations for U.S.-China trade negotiations leading to dollar buying.

The price reached a high of 143.97 around GMT 16:00 and trading for the day closed at 143.50.

Today the USDJPY traded firmly from the opening, reaching a high of 143.90 yen around GMT 02:30. As of GMT 04:30, it has fallen back and is now rising again toward the high.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on June 6), the upward trend continues, but there is resistance in the near term around 144.0 yen and more recently around 144.44. The market is closely watching whether the price can break above these levels.

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. May Nonfarm payrolls
• GMT 12:30 U.S. May Unemployment rate
• GMT 12:30 U.S. May Average hourly earnings