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USD/JPY has another look below 154

Earlier today the drop back in the USD/JPY which started late yesterday afternoon, extended to below 154 again. The low seen earlier this morning was set at 153.96, which pretty much matched the low seen on Monday (153.88). It then rebounded back to 154.36 a short while ago following comments from a BOJ board member, advocating a lower for longer monetary policy stance. Notwithstanding that though, there does appear to be a waning in momentum on the topside and that is also witnessed by a drop in the dollar overall now. There will be more to add on that a little later this morning. Meantime, the USD/JPY is currently trading at 154.28

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