On Friday of last week the USDJPY, partly due to the U.S. markets being closed for Independence Day, showed a downward trend from shortly after the opening, without any violent price movements.

Shortly after GMT 06:00, the price hit a low of 144.18, but after that it did not break below 144 and entered consolidation straddling the mid-144-yen range, with trading for the week closing at 144.43 yen.

Today the USDJPY hit a low of 144.22 shortly after GMT 01:00. President Trump mentioned the possibility of imposing an additional 10% tariff on countries that cooperate with BRICS, and the market reacted with dollar buying.

Around GMT 03:30, it hit a high of 144.84 yen.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on July 7), the band width that had been contracting has begun to turn toward expansion. Since it broke above +2 standard deviations, a temporary adjustment seems likely, but if it appears likely to exceed 145.23 yen, a shift to an upward trend is also possible.

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

Today, no closely watched economic indicators are scheduled for release.