USD/JPY edging off the lows as stocks lift

Earlier this morning the DAX did fall below the 22,500 handle and that fall came alongside some downside pressure across the US equity futures. That in turn weighed on the USD/JPY and pushed it down to a session low at 150.36. However, as all those stocks rebound, the USD/JPY is pressing a little higher. The DAX has rebounded from an earlier low at 22,438, to back above 22,575 just now and that has helped the USD/JPY lift to above 150.70 as the US futures also rise. The release of the important US PCE report at 12.30pm GMT will most likely decide if the dollar can rise back above the earlier session high, at 151.21, or fall back below 150.36, assuming it does not make any move outside of that range beforehand