USD/JPY edging towards 150 again

Yesterday afternoon after the release of the US JOLTS and ISM index, the USD/JPY fell back and eventually dipped below 149. The low set was at 148.97. However, as the US stock markets recovered, they took the dollar higher with them and that saw the USD/JPY rise back above 149.50 and later close the US session at 149.61. The more benign risk backdrop across Asia today has helped the USD/JPY to extend that rebound a bit more. The dollar has reached 149.95 a short while ago. The high seen yesterday was set at 150.14 and beyond the 150 handle itself, that looks like the next potential resistance level. That said, there might be stops above there now, if it gets taken out. At the same time, all three major daily moving average are still falling and the 50 day has crossed below the 200 day now. That 50 day is in place this morning at 150.97. Much will depend on what unfolds later today, as to whether this current rebound is extended, or bought to a shuddering halt. There will be much more to add on all that as the day unfolds. The USD/JPY is right now at 149.91