Yesterday the USDJPY traded firmly, with dollar buying advancing after U.S. economic indicators released at GMT 12:30 showed generally positive results, reaching a high of 148.26 around GMT 13:30.

Although it declined afterward, it maintained the upper 147-yen range and trading for the day closed at 147.98 yen.

Today the USDJPY reached a high of 148.11 shortly after GMT 01:00, but after the Bank of Japan announced it would maintain its policy rate and reports emerged that two committee members had proposed raising rates to 0.75%, yen buying advanced and the price hit a low of 147.19 shortly after GMT 04:00.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:40 on September 19), the middle line is trending upward, but the price temporarily plunged outside the Bollinger band. If it breaks substantially above the 148.18 yen are, it appears likely to continue rising, but if it falls below 147 yen, a downward outlook would be more appropriate.

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

Today, no highly influential economic indicators are scheduled for release.