USD/JPY actually holding up quite well as Nikkei slumps again

The mainland Chinese stock markets are closed today and that is probably good for them because otherwise they would surely be deeply in the red today. The Japanese markets have been trading though and they have taken another hit. At the time of writing the Nikkei 225 is more than 1000 points in the red and heading ever closer to the lows seen last year, when it index slumped to a low  at 31,156. That further downside pressure has added pressure onto the USD/JPY, but you know what? It could have been worse for the dollar. The USD/JPY closed in the US last night at 146.06, but given the extent of the US stock market losses, that close could so easily have been lower too. The USD/JPY did fall further earlier today, hitting a session low at 145.30, after reaching 146.41 beforehand,  but it has rebounded off that low since. The outlook remains extremely uncertain heading into the weekend though and overall the path for the dollar is still southbound. The USD/JPY is right now at 145.88