USD/JPY extends move higher this morning as European stocks come off opening lows

The European stock markets have been open for less than 30 minutes and just now all three major indexes are pushing higher, off their opening lows. The same can be said of the US futures too and that slightly more positive price action has been accompanied by a further rise in the USD/JPY this morning. However, that dollar rebound was already unfolding ahead of the rebound in stocks. The price action of recent days in the USD/JPY has been characterised by early dollar gains giving way to fresh dollar downside later in the session. That was most certainly the case yesterday and of course it was driven by some very weak US data yesterday afternoon. There is an absence of any US data today though, so it will be interesting to see how the USD/JPY fares later in the session. Right now though, the dollar is just now lifting to session highs above 143.80 and that is helping to force the likes of the GBP/USD and EUR/USD a little lower. The USD/JPY is currently trading at 143.80