Yesterday the USDJPY traded firmly from shortly after the opening and reached a high of 154.25 yen around GMT 11:00. Although it briefly fell below the 154-yen level, it maintained the high range and trading for the day closed at 154.14 yen.

Today the USDJPY maintained the 154-yen range as dollar buying and yen selling continued on expectations of the U.S. government shutdown being lifted, reaching a high of 154.49 yen around GMT 01:00. It subsequently declined, but as of GMT 04:30 is trading in the 154.3-yen range as it attempts to return to the high.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:40 on November 11), the middle line is trending upward, and focus is on whether it will break above the 154.5-yen level. A clear break above this level would likely strengthen the upward momentum.

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

Today the U.S. market is closed and no major economic indicators are scheduled for release.