On Friday of last week, the USDJPY peaked at 157.54 around GMT 00:00 and remained soft throughout the day. Following Finance Minister Katayama's comments to curb yen weakness, the pair hit a low of 156.20 around GMT 15:00, but the decline paused there and trading for the week closed at 156.36.

Today the USDJPY has seen calm price movements in the Tokyo market, partly due to Japan being on holiday. The pair hit a high of 156.80 shortly after GMT 00:30 before pulling back, and as of GMT 04:00 is trading somewhat softly in the 156.6-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on November 24), the downward momentum has weakened and direction is unclear on this timeframe. An appropriate strategy would be to wait for a clear break above 156.96 or a clear break below 156.20 before taking action.

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

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