USD/JPY continues to unwind earlier gains

Since the last update here noted the dollar getting hit across the board, the USD/JPY has fallen to a low at 156.24. The earlier session high was set at 157.96. The further fall seemed to gather pace as the dollar fell through 157. It has rebounded off the lows now, but it remains to be seen how much further that rebound might lead. The high since the low has been set at 156.68. The reader is also once again remained; that despite some pretty elastic price action already today, the USD/JPY has remained inside the range outlined here a couple of days ago- 156-158. The failure to get back above 158 earlier today is all due to a wider relapse in the dollar following the Washington Post article noted earlier. Right now the risks of a break below 156 from here would seem to be far more elevated than the opposite above 158, but that might change. The USD/JPY is currently trading at 156.59