There was a major market move in the USDJPY yesterday, with the price bursting through 153 yen following the announcement of the U.S. Consumer Price Index (CPI) for March at GMT 12:30, which beat expectations. Ultimately, the high for the day was the 153.24 recorded just before the close.

Today the USDJPY opened at 151.74, but although it had hit a high of 151.80 as of GMT 05:00, volatility remained low. Looking at 1-hour chart of the USDJPY (as of GMT 05:15 on April 10), the price has rebounded slightly from the lower 2-standard deviation Bollinger Band.

Partly due to the lack of economic indicators or other events yesterday, the USDJPY traded lethargically throughout the day. After opening at 151.56, the price went on to hit a high of 151.94 at around GMT 13:00.

On Friday of last week, the USDJPY reversed after touching a low of 150.81 in the morning, and recovered to break above the 151-yen level during London trading hours.

Price action in the U.S. dollar-Japanese yen was subdued throughout Tokyo and London trading hours yesterday, and for the first half of the New York session, but the price began to plunge in the second half, at around 3 a.m., and broke through the low of the day.

Yesterday, the U.S. dollar-Japanese yen rate continued its attempt to reach new levels, and hit a high of 151.95 before 11 p.m. However, the price was unable to get to 152, and by around 1:30 a.m. on April 4 it had fallen back to 151.57.

Yesterday, the U.S. dollar-Japanese yen rate hit a high of 151.80 a little time after 2 p.m., then fell back to mark a low of 151.46 after 11 p.m.

Yesterday, the U.S. dollar-Japanese yen rate showed little price movement during Tokyo and London trading hours, instead traveling sideways in a triangle formation. However, it began to rise at around 9 p.m., hitting a high of 151.76 at 23:00.

Due in part to the U.S. stock market being on holiday for Good Friday, the U.S. dollar-Japanese yen rate showed no clear direction throughout the day. The price remained within a narrow range above 151 yen.

No major trend arose during yesterday's US dollar-Japanese yen session, with the price oscillating above 151 yen with a range of 40 pips or so.

Before midday yesterday the US dollar-Japanese yen rate reached 151.96, a new high for recent trading. After moving sideways for a while, reports emerged after 5 p.m. of a three-party meeting between the Ministry of Finance, the Financial Services Agency, and the Bank of Japan, which sent the currency plummeting. This was followed by verbal intervention, and some time after 8 p.m. the yen hit a low of 151.02.

The US dollar-Japanese yen rate failed to show any energy throughout yesterday's session, hitting a low of 151.20 yen after 6 p.m. before rising to touch 151.60 before 1 a.m., after the change of date.

In yesterday's market the US dollar-Japanese yen rate traded in a range bound by the high of 151.54 and the low of 151.05.