Yesterday the USDJPY reached a high of 157.39 shortly after GMT 00:30, then fell back to record a low of 156.88 shortly after GMT 04:30. Subsequently, it traded in a range between 157.0 and 157.3, and trading for the day ended at 157.08.

As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY reached a high of 157.32 shortly after GMT 00:30, and as of GMT 04:00 is trading around 157.0. Bank of Japan Governor Kazuo Ueda is scheduled to speak in the morning.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on December 25), the middle line is almost horizontal, with range-bound trading continuing since December 23. If the price breaks above 157.4 or below 157.0, it would be advisable to follow that direction.

Today many countries are closed for Christmas, and trading is unavailable at multiple FX companies. With reduced price movement and widening spreads, there's no need to trade unless you have a specific target.

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

Today the U.S. market is on holiday, and no closely watched economic indicator announcements are scheduled.