USD/JPY crumbles again in Asian trading

The USD/JPY has dumped again today. The fall in the dollar had delivered a low yesterday at 153.11 right on the 4pm London Fix. The rebound that followed ahead of the US close saw it reach 154.10. However, it has crumbled to a low so far today at 152.23, after closing last night at 153.97. The fall has taken it one step closer to the noted next corrective level, at 151.10. Given the speed and nature of the price action already this week, it would be very wise to not rule out that level being put to the test at some point today. The falls in the USD/JPY have taken all the major Yen crosses even lower and the major surprise this morning is the impact that has had on Gold. The price action there will be looked at in the very next update. Meantime, the USD/JPY is just now trying to gather its thoughts and rebound. Basically folks, you need to strap yourselves in for another exciting and bumpy ride again today. The USD/JPY is currently trading at 152.65