On Friday of last week the USDJPY hit a low of 146.81 shortly after GMT 05:30, then turned upward, reaching a high of 147.94 shortly after GMT 11:00, with trading for the week closing at 147.60 yen.

President Trump's visit to the Federal Reserve headquarters and his statement that there is no need to dismiss Fed Chair Jerome Powell appears to have led to a dollar-buying reaction.

Today the USDJPY hit a low of 147.51 around GMT 01:00 and reached 148.02 around GMT 02:00, but momentum was weak, and as of GMT 04:30 it is trading in the upper 147-yen range.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on July 28), the Bollinger Band width has contracted and it is difficult to determine a clear direction, If the price breaks clearly above 148.0, the next target appears to be around 148.5.

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

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