USD/JPY: RSI 24.21 (1st pct)

On 2026-08-04, USD/JPY closed at 157.529, down 0.03% on the day. It trades at 63.7% of its 52-week range. Its RSI(14) of 24.21 is in the 1st percentile of its history since 1996, and its 20-day return of -2.81% in the 13th percentile. RSI below 30 is conventionally termed oversold. Leveraged-money positioning is net -23.6% of open interest, at 23% of its own two-year positioning range. It is trading below its 20-, 50- and 200-day moving averages. Its 20/50/200-day moving averages are 162.157 / 161.324 / 157.953, with price -2.85% / -2.35% / -0.27% against them. Its 52-week range is 146.217–163.979; it closed 3.93% below the high and 7.74% above the low. Its 20-day volatility is 0.597% daily, in the 57th percentile of its history since 1996. Its 14-day average true range (ATR) is 1.485 (148.5 pips), 0.94% of price. It has returned -3.81% over 5 days and +0.19% over 60 days.

=== USD/JPY  (pip 0.01) ===
  >> close 157.529  -0.034%   · price < all MAs; RSI(14) 24.21 (1st pct, since 1996 (7693 obs))
  price & change   (as of 2026-08-04, prior 2026-08-03)
    close       157.529
    change      -0.053  (-0.034%, -5.3 pips)
    gap         -0.043  (-4.3 pips)  (cross-session move on continuous FX; not a feed gap)
  range            (as of 2026-08-04)
    range       0.721  (72.1 pips)
    close pos   41.3% of range
  moving averages  (as of 2026-08-04)
     20d MA     162.157   price below by -2.85%
     50d MA     161.324   price below by -2.35%
    200d MA     157.953   price below by -0.27%
    price < all MAs
    stack: 20d > 50d > 200d
  volatility       (as of 2026-08-04)
    20d stdev   0.597% daily ≈ 9.5% annualized (×√252)   (57th pct of own history, since 1996 (7687 obs))
    vs easing-2024 avg  1.00× (0.597% vs 0.596% era avg)
  ATR              (as of 2026-08-04)
    ATR(14)    1.485  (148.5 pips)
    ATR%        0.94%   (53rd pct of own history, since 1996 (7693 obs))
    range/ATR   48.6%
  52-week range    (as of 2026-08-04)
    high        163.979   (-3.93% from high)
    low         146.217   (+7.74% from low)
  momentum         (as of 2026-08-04)
    RSI(14)     24.21   (1st pct of own history, since 1996 (7693 obs))
  returns          (as of 2026-08-04)
     5d return  -3.81%
    20d return  -2.81%
    60d return  +0.19%
  volatility by rate-era
    pre-crisis       0.8804%   (from 1996-10-30)
    ZIRP-2009        0.6396%
    tightening-2015  0.5829%
    ZIRP-2019        0.4159%
    tightening-2022  0.6795%
    easing-2024      0.5963%
  positioning      (as of 2026-07-28)  (predates 2026-07-29 FOMC)
    next COT     as of 2026-08-04 (released ~that Fri, later if a holiday intervenes)
    net         -101,990 contracts (net short JPY; = long USD in USD/JPY terms)
    net % OI    -23.6%
    net%OI range -33.5% … +10.5% (own 135w)
    w/w change  -5,805
  cross-asset corr (26w weekly returns; async daily closes cap the magnitude)  (as of 2026-08-04)
    vs DXY      +0.65
    vs S&P 500  -0.23
    vs DXY beta +0.82 (26w)