USD/JPY does have a look below 140

On Friday a noted, reported low on the USD/JPY was actually set at 140.28 (not 140.27). Prior to that, updates here noted the potential risks of a test of the 140 handle. Well, in the event that price point remained intact and the dollar pushed back up, to trade at exactly 141 ahead of the US close.  Well, since then the dollar has slipped in Asian trading today, following a close on Friday, at 140.85. The USD/JPY has indeed now dipped to just below that 140 handle. The low seen a little earlier today was set at 139.96 and so far it has not managed to rebound very much off that earlier low. The fall in the dollar today comes as the Nikkei futures fall and the index itself is closed for a national holiday. As with the GBP/USD, the USD/JPY will be very much in melee when it comes to any dollar reaction to the Fed policy decision on Wednesday evening (6pm GMT). As reported here last week, the calls for a 0.50% rate reduction have grown a lot louder in the past few days, but the general expectation remains for a 0.25% cut. There will be more to add on this in due course. Meantime the USD/JPY is just now trading at 140.16