Yesterday the USDJPY moved weakly throughout the day, with a high of 146.18 yen around GMT 22:00 (on June 23).

The U.S. June consumer confidence index announced at GMT 14:00 showed a poor result of 93.0 against the expected 99.5, causing continued dollar selling. Shortly after GMT 14:00, the price hit a low of 144.51 yen and trading for the day closed at 144.90 yen.

Today the USDJPY reached a high of 145.04 yen shortly after GMT 00:30 before declining, hitting a low of 144.60 yen around GMT 02:00. There is no clear directional sense, and as of GMT 05:00 it is moving in the upper 144-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:50 on June 25), the decline has paused and consolidation continues, making it difficult to see direction. It would be better to consider entry after the price breaks through either the recent high or low.

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

The main economic indicators for today are as follows:

• GMT 14:00 U.S. May New home sales
• GMT 14:00 U.S. Statements from FRB Chairman Jerome Powell