On Friday of last week the USDJPY hit a low of 145.12 at around GMT 00:00. Although the U.S. denied it would take immediate military action against Iran, dollar buying strengthened during New York hours, and the price hit a high of 146.21 at around GMT 19:00. Trading for the day closed at 146.02.

Today the USDJPY saw dollar buying dominate amid geopolitical tensions, following weekend reports that the U.S. attacked Iranian nuclear facilities. The price hit a high of 147.01 at around GMT 04:30.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on June 23), it shows an upward Bollinger Band walk pattern. It appears likely to pursue higher levels above 147.0

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

The main economic indicators for today are as follows:

• GMT 13:45 U.S. June Manufacturing Purchasing Managers Index (PMI, preliminary)
• GMT 13:45 U.S. June Services Purchasing Managers Index (PMI, preliminary)
• GMT 13:45 U.S. June Composite Purchasing Managers Index (PMI, preliminary)
• GMT 14:00 U.S. May Existing home sales