On Friday of last week, in the aftermath of the plunge in the market that followed Thursday's Consumer Price Index (CPI), the USDJPY was in a state of high volatility with repeated fluctuations in the price. There were passages of violent up-and-down movement between GMT 23:00 and GMT 00:00 and again after GMT 12:00.

Today (Tokyo time) the USDJPY has been fluctuating wildly up and down between the 157-yen range, some time after GMT 23:00, and the 159-yen range. Volatility has increased following the plunge in the price that took place yesterday afternoon, so traders should be wary of further unexpected price movements going forward.

Today the USDJPY traded narrowly in the middle of the 161-yen range. There may be no significant movement until the U.S. Consumer Price Index (CPI) is announced later today. Looking at the 1-hour chart of the USDJPY (as of GMT 04:50 on July 11), there is no sense of momentum to the price but the market is rising unhurriedly.

Partly because today was 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), the USDJPY began rising in the morning session. This upward momentum remained strong for some time even after the fixing of the TTM rate at GMT 00:55, and slightly before GMT 02:00 the price reached a high of 161.59. Looking at the 1-hour chart of the USDJPY (as of GMT 00:50 on July 10), one reading of it is that the 161.28 level, which we have mentioned many times before, has flipped to provide support.

Today the USDJPY recovered to the 161-yen level after bulls dominated the first half of the Tokyo session, with the price hitting a high of 161.13 shortly after GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on July 9), the upward motion in the price is stalling in the area of the +2 standard deviation of the Bollinger Band.

Today the USDJPY began trending down in the morning, but despite touching a low of 160.26 shortly after GMT 02:30 the price then rebounded. Looking at the 1-hour chart of the USDJPY (as of GMT 04:15 on July 8), it appears to be trending down amid significant fluctuations in the price. The increase that began with the announcement of the employment figures reversed when the price hit resistance.

Today the USDJPY marked a high of 161.39 before GMT 00:00, but the price then plunged, reaching a low of 160.52 after GMT 3:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on July 5), it can be seen that the 161.28 level that had previously functioned as a line of support has flipped to resistance.

Today the USDJPY saw selling momentum in the morning, and not long after GMT 01:00 it marked a low of 161.13 Looking at the 1-hour chart of the USDJPY (as of GMT 05:15 on July 4), the 161.28 level is still acting as support and preventing further declines.

Today the USDJPY trended upward after opening at 161.40, and some time after GMT 03:30 marked a high of 161.65. Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on July 3), it seems that the previous high of 161.28 has flipped to become support.

Today the USDJPY maintained its momentum in the morning session, hitting a high of 161.74 just before GMT 05:00. Looking at the 1-hour chart of the USDJPY (as of GMT 06:15 on July 2), the price has rebounded after yesterday's temporary sharp decline and the upward trend continues.

Today the USDJPY trended up during Tokyo trading hours, reaching a high of 161.18 shortly before GMT 01:00. Looking at the 1-hour chart of the USDJPY (as of GMT 05:25 on July 1), the price has rebounded from the support provided by the low set in bottom half of the 160-yen range, and seems to be moving in a way that could again result in new highs.

Starting just before GMT 01:00 today, the USDJPY soared to 161.28, setting a new high for the year. Looking at the 1-hour chart of the USDJPY (as of GMT 05:10 on June 28), the price bounced off the neckline created by the formation of the double bottom. It can also be seen that there was an opportunity to buy on weakness in the area of the neckline.

Today the USDJPY fell back in reaction to the new high it had set on the previous day. As of GMT 04:00 the market was trading in the middle of the 160-yen range, with no sign of bottoming out. Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on June 27), the price can be seen to have broken through the -1 standard deviation of the Bollinger Bands during the fall from the high it set last night.

In the first half of today's Tokyo session the USDJPY trended upward, reaching a high of 159.90 at around GMT 01:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:55 on June 26), despite the lack of a strong trend the price can be seen to be moving upward slightly.

Today was 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), but the USDJPY began to fall in the morning session, marking a low of 159.18 just after GMT 01:00.

Today the USDJPY began rising in the morning session, hitting a high of 159.92 before entering a moderate decline. Looking at the 1-hour chart of the USDJPY (as of GMT 03:20 on June 24), the Bollinger Bands are visibly widening during the walk along the upper band, and contracting when the price stalls.

Today the USDJPY reached a high of 159.12 just before GMT 01:00, but then sold off. Looking at the 1-hour chart of the USDJPY (as of GMT 05:30 on June 21), the band walk between the +1 and +2 standard deviation Bollinger Bands has ended and the price appears to be in a pullback.

Due in part to it being 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 hit a low of 157.92 just before GMT 00:00, then changed direction and began to rise.

During the first part of today's Tokyo session, the USDJPY traded with little energy in the upper half of the 157-yen range. Because the U.S. market is on holiday and because there are no closely watched economic indicators scheduled, it is possible that volatility will remain low.

Today in the Tokyo session the USDJPY showed little energy, with aimless price movement eventually leading to a low of 157.51 just before GMT 02:00. The 1-hour chart of the USDJPY (as of GMT 05:15 on June 18) shows that although we have had a series of candles with small bodies, the price has trended up through the middle line of the Bollinger Bands and is rising little by little.