Yesterday the USDJPY reached 144.75 yen shortly after GMT 23:00 (on June 15), then declined and hit a low of 143.65 yen around GMT 14:30.

It then rebounded and reached a high of 144.87 yen shortly after GMT 19:30. Trading for the day closed at that high level.

Today the USDJPY hit a low of 144.57 yen shortly after GMT 22:30 (on June 16) and reached a high of 145.11 yen shortly after GMT 00:30. It has been reported that the Bank of Japan will keep interest rates unchanged, and selling pressure is emerging in the near term.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on June 17), it has broken above the consolidation range and the upward trend continues. This is a dip-buying phase with 143.65 yen as the lower limit, and the recent high of 145.46 yen is likely to become the upside target.

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

The main economic indicators for today are as follows:

• U.S. Federal Open Market Committee (FOMC) Day 1
• GMT 12:30 U.S. May Retail sales
• GMT 13:15 U.S. May Industrial production
• GMT 14:00 U.S. June NAHB Housing Market Index