Yesterday the USDJPY turned to decline after hitting a high of 144.95 yen shortly after GMT 00:30, and reached a low of 143.97 yen shortly after GMT 09:00. After bottoming out there, it rebounded to the 144.7-yen range, and trading for the day closed at 144.52.

Today the market was focused on BOJ Governor Kazuo Ueda's remarks, but he repeated the same understanding as before that if the possibility of the underlying inflation rate approaching 2% increases, there would be rate hikes, inducing dollar buying. The price hit a high of 145.29 yen around GMT 02:00 and then fell back, and as of GMT 05:00 it is rising in the upper half of the 144-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:50 on June 10), the price rebounded after reaching -2 standard deviations, and after recording a new high it has entered a phase of buying on dips. If it does not clearly break below around 144.5 yen, a buying perspective seems appropriate.

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

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