USD/JPY finds support below 151 again

An update here on Friday noted how the USD/JPY had fallen below the 151 handle at the start of the Asian session that day. The rebound that followed saw it lift just above 152.25 ahead of the US monthly jobs report. As also covered, the immediate reaction to the US jobs data sent it lower again, towards 151.25, only to see it spike to session highs above 152.40 in the blink of an eye. However, that rebound was then totally derailed by the comments from Trump later in the afternoon. Those remarks sent the dollar below the 151 handle once more, but it steadied into the weekly close- 151.41. Earlier today the USD/JPY set a session low at 151.16, but it rebounded from there, as the Nikkei 225 recovered earlier losses. That saw the USD/JPY rise to 152.21. Of course further Trump trade tariff news is very much in focus for the USD/JPY today. However, as noted before, it seems there is strong evidence to suggest that Japan is off the list of countries potentially targeted by Trump. Whilst you might think that would be a driver to send the Yen higher, we should also remember, it might be a driver to underpin the Nikkei 225. If that is the case, then unless the Nikkei/Yen correlation unravels, the Yen will not necessarily benefit. The USD/JPY is right now at 152.01