USD/JPY extends break below 141.70

In so many recent updates here the August 5 low on the USD/JPY has been in focus and the level has now given way today. As expected and warned about, that break has delivered an extension to the downside for the dollar. The catalyst for the breakdown in the dollar stemmed from comments by a Japanese official earlier today, highlighting the prospect of further tightening to come from the Bank of Japan. That has forced the Nikkei 225 lower again, pushing the index back underneath 36k. The corresponding move lower in the USD/JPY has just delivered a fall to a low at 140.91. That means it is within 10 pips of the lowest level of the year for the dollar, set back at the very beginning of January, at 140.82. The fall in the USD/JPY to these new lows has also delivered another fall back in the major Yen crosses this morning. The USD/JPY is currently trading at 141.20