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USD/JPY hits fresh session lows as cross trade profit-taking continues

The Yen is gaining more ground right now and that is seeing the USD/JPY fall to fresh session lows and closer to the 147 handle. The move lower in the dollar there comes as the USD/CNY sets its lowest daily fix since July. The price action in the USD/JPY is still rapid compared to anything else within the G10 block and it still looks like profit-taking on major Yen cross trades is playing a major role in all this too. The USD/JPY has now hit a session low at 147.15 and that has seen corresponding session lows in the GBP/JPY and EUR/JPY. The USD/JPY is currently off that low set a moment ago, just now trading at 147.25
 

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