Yesterday the USDJPY reached a high of 148.11 around GMT 01:30 but failed to continue rising, moving in a gradual downward trend. It hit a low of 147.44 around GMT 17:00 and trading for the day closed at 147.66 yen.

As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY reached a high of 147.81 around GMT 00:30, but declined after the TTM (Telegraphic Transfer Middle Rate) passed, hitting a low of 147.42 shortly after GMT 01:30. As of GMT 05:00, it is moving in the mid-147 yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on August 20), the price is showing a somewhat downward trend as if being pushed down by the weight of the higher price. Unless it clearly breaks above the recent high of 147.81, this appears to be an effective phase for implementing incremental short-selling on rebounds.

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

The main economic indicators for today are as follows:

• GMT 18:00 U.S. Federal Open Market Committee (FOMC) Meeting Minutes