Yesterday the USDJPY reached a high of 156.25 shortly after GMT 06:00, then began to decline. DeepSeek, a Chinese company, announced their AI model, leading to widespread dollar selling. The price reached a low of 153.76 shortly after GMT 11:00.

From the New York session, the decline paused, and trading for the day closing at 154.50.

Today the USDJPY has risen to the upper-155 range as of GMT 04:00, with views spreading that Bank of Japan rate hikes will be delayed due to Trump tariff concerns.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on January 28), it has recovered from its decline and returned to mid-January range. If it falls again, one approach might be to expect a downward trend.

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

The main economic indicators for today are as follows:

•   U.S. Federal Open Market Committee (FOMC) Day 1
• GMT 13:30 U.S. December durable goods orders
• GMT 14:00 U.S. November Case-Shiller home price index
• GMT 15:00 U.S. January Consumer Confidence Index
• GMT 15:00 U.S. January Richmond Fed manufacturing index