Yesterday the USDJPY moved mostly sideways in the 148-yen range. The price hit a low of 148.15 around GMT 06:00, then turned higher and reached a high of 148.80 around GMT 13:30, but failed to extend gains and trading for the day closed at 148.41 yen.

Today the USDJPY saw risk-averse yen buying triggered by an earthquake on the Kamchatka Peninsula, hitting a low of 147.84 shortly after GMT 03:00, but has since paused as of GMT 04:30.

Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on July 30), while the price briefly broke below 148, this wasn't enough to change the overall trend, and direction remains unclear on this timeframe.

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

The main economic indicators for today are as follows:

• GMT 12:15 U.S. July ADP employment change
• GMT 12:30 U.S. Real gross domestic product (GDP), Q2 (preliminary)
• GMT 18:00 Announcement on interest rates after U.S. Federal Open Market Committee (FOMC) meeting
• GMT 18:30 U.S. Regular press conference with FRB Chairman Jerome Powell