On Friday of last week the USDJPY remained range-bound in the 157-yen zone. In the absence of events such as economic indicators or statements from influential individuals, trading for the week ended without any clear direction.

The USDJPY hit a low of 157.15 shortly after GMT 23:30 on July 21, then began to rebound.

Looking at the 1-hour chart of the USDJPY (as of GMT 03:55 on July 22), the Bollinger Bands are contracting with the middle line moving almost parallel to them, showing the trendless nature of the market.

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

No closely watched economic indicators or comments by influential individuals are scheduled for today.