USD/JPY extends a fall below 155.38

The risks of a USD/JPY fall below the previous interim low at 155.38 have been highlighted here this week. Well, that is what has played out today. The dollar was already falling back into the US close last night and not much above that 155.38 price point. The USD/JPY closed last night at 155.59. A brief rise to test 156 early in the Asian session, once reversed through 155.38, tripped a whole bunch of fresh selling and that has delivered a low so far at 154.55. The further slide in the dollar today was also enhanced by that previous low exactly matching the price point of the 100 day moving average and likely stops below that level. The dollar fall comes amid fresh talk of a BOJ rate increase next week. The move lower in the dollar today has delivered a further slide in the EUR/JPY and GBP/JPY, but more on those in an update later. The USD/JPY is currently trading at 154.57