Over 7 years since the range for the week has been this low
The low to high trading range for the USDJPY this week has been from 110.42 (reached in the first hour of tradin on Monday), to 110.94 reached near midday on Wednesday. That is a low to high range of 52 pips. Looking at the price action, there has been a lot of ups and down with most of the price action above 110.56 and 110.89. We currently trade at 110.63.
That 52 pips is the lowest trading range for a week of trading since January 2012. That's over 7 years ago. The pair is non-trending.
The potentail good news is eventually, the market tires of staying in one place (the week is not over either with Trump meeting with China's Vice Premier ahead at 2:30 PM ET although no big surprise is expected). So at some point we will get a break with momentum.
Yields in the US are lower with 10 year down -4.4 bps and the 5 year down -5.2 bps. Stocks are higher though with the Nasdaq up 0.82%, the S&P up 0.60% and the Dow up 0.67%.
