As expected USD/JPY rebounds back above 150 in Tokyo trading

Yesterday afternoon, as the USD/JPY got pushed below 150 an update here noted the dollar looked reasonably cheap near 149.75 on the day. Well, it did get a bit cheaper than that, as it fell back to 149.55. However, the rebound that followed into the US close, saw it later end the US session at 149.91. The dollar has extended that move today and lifted back above 150 and above 150.50. The high seen a short while ago was set at 150.62. So, immediately we now have support and resistance at 149.55 and 150.94 from the high and low seen yesterday. If it can make it above that high point, then it could lift back towards the 200 day moving average. That is in place right now at 151.71 and the dollar has remained camped below that since February 2. Hence, as you can see it is still a pretty important trend defining level. The low seen earlier today was set at 149.84. The USD/JPY is right now at 150.47