Yesterday the USDJPY fell directly after the opening and hit a low of 146.21 shortly after GMT 06:00. Following the strong U.S. July PPI results released at GMT 12:30, the price turned higher and reached a high of 147.96 around GMT 18:00, with trading for the day closed at those highs.

Today the USDJPY reversed course from yesterday's gains and traded weakly. The price hit a low of 147.04 around GMT 05:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on August 15), the price has been capped without breaking recent highs and is now almost breaking below the 147-yen range. The market is watching whether the price will bounce again near the 146.5 yen level or continue its downward trajectory.

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

The main economic indicators for today are as follows:

• GMT 12:30 U.S. July Retail sales
• GMT 12:30 U.S. July Retail sales (excluding autos)
• GMT 12:30 U.S. August New York Empire State Manufacturing Index
• GMT 13:15 U.S. July Industrial production
• GMT 14:00 U.S. August Michigan Consumer Sentiment, preliminary
• GMT 20:00 U.S. June Total net TIC flows