USD/JPY was on a nice run of reasonable volatility but has traded in a 20-pip range in US hours today. Since the breakdown in Asian trading Monday the total breadth is from 97.16 to 97.62 — 46 measly pips.
Maybe, just maybe, the doji star on the daily chart sparks a big move tomorrow but I’m finding the lack of volatility awfully suspicious. The chart doesn’t look there is any kind of intervention at work and the trade seems simple — go with a break in either direction.
