Tumble in USD/JPY volatility

USD/JPY ATR(14) is at minimums across several time frames, from 30min to daily charts.

Volatility shrunk to levels not seen in several weeks of trading independently from trend direction. This signal augurs poorly for short-term traders because they indicate less direction for trend following and less volatility for mean reversion. It is advised to look for a catalyst and subsequent change in dynamics before entering USD/JPY trades.