Yesterday the USDJPY traded softly from directly after the opening but rebounded around the mid-150 range, reaching a high of 151.39 shortly after GMT 09:00.

However, two U.S. regional banks disclosed issues with loans suspected of fraud, accelerating dollar selling. Around GMT 19:30, the price touched a low of 150.21, and trading for the day closed at 150.42.

Today the USDJPY has shown limited upside potential due to multiple U.S. concerns including U.S.-China tensions and the government shutdown, trading somewhat softly with fluctuations. It reached a low of 149.89 shortly after GMT 03:30 and as of GMT 05:00 is trading in the upper 149-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on October 17), the middle line is sloping downward, forming a downward Bollinger Band walk on this timeframe. With buying pressure showing some resistance, this appears to be an effective phase for incremental short-selling on rebounds.

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

Today, no closely watched economic indicators are scheduled for release.