USD/JPY drops as Asian stock markets fall

The Japanese stock markets are not open today, due to a public holiday (Coming of Age Day), but if they were the Nikkei 225 would be significantly lower. The Nikkei 225 futures are open though and earlier this morning they were lower by 1000 points, as the rest of Asia follows the losses on Wall Street on Friday. That slide in the Nikkei futures has dented the USD/JPY. As covered here on Friday, the USD/JPY had already reversed an immediate, post US jobs report gain to a new 2025 high, at 158.87. The dollar had fallen back to 157.22, before recovering somewhat into the US close, at 157.73. The price action so far today has seen it drop back again from an earlier session high at 157.97, to a low a short while ago, at 157.25. It is lifting off that low now and it is worth noting the low seen so far this morning has not surpassed the low seen on Friday. If sustained, that may yet prove to be important. We shall see. The USD/JPY is currently trading at 157.48