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USD/JPY falls back towards mid range

Earlier this morning the USD/JPY rebounded to a new session high at 144.32. That high was set as the European stock markets reopened. However, and since then the dollar has run into fresh selling and the move to 144.32 has since petered out. The dollar has just now fallen back underneath 143.90. The move has also seen the EUR/JPY and GBP/JPY fall back with the dollar. There is no real catalyst for the shift in direction and at this stage we are taking about a reversal back towards the middle of the outside range seen so far today. In that sense it is not of any consequence, other than anything outside of an intraday price swing. The USD/JPY is currently trading at 143.93

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