Yesterday the USDJPY showed a declining trend immediately after the opening, but after hitting a low of 144.73 around GMT 01:00, it turned upward and reached a high of 145.76 around GMT 11:00. Although it stopped rising there, it maintained the mid-145-yen range, and trading for the day closed at 145.36 yen.

Today the USDJPY is experiencing unwinding of risk-averse dollar buying after the U.S. announced it would decide within two weeks whether or not to attack Iran. After reaching a high of 145.56 shortly after GMT 22:30 (on June 19), the price has been consolidating in the mid-145-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on June 20), the upward movement has paused and the upside is becoming heavy. The middle line has become horizontal and the directional momentum is difficult to discern. If the price breaks below 144.32 yen, the downward trend is likely to strengthen.

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. June Philadelphia Fed Manufacturing Index
• GMT 14:00 U.S. May Leading Index