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USD/JPY holding above 150 so far today with Japan on holiday

Today is a public holiday in Japan (Culture Day) and so the price action in the USD/JPY has been contained to a tight range, with 150.25 to 150.55 covering as the European markets reopen. Yesterday the USD/JPY managed to recover from a low at 149.85. That recovery saw the dollar rebound to 150.55 just after the 4pm London fix. It later closed in the US at 150.45. It has been drifting lower so far today though and not helped by any rebound in US yields yet this morning. Of course the looming US monthly jobs report is in play later today and so often the USD/JPY is the most reactive major pair to that data. That said, it will need to be a good report for the dollar to retest the recent highs by the looks of things right now. There will be more to add as the day unfolds. The USD/JPY is currently trading at 150.25

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