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USD/JPY holds inside outlined range again so far today
The USD/JPY was once again the most volatile of the major FX pairings yesterday, but as suspected it did not break any fresh ground, outside of the noted range, of 141.70 and 144.01. The high seen yesterday at 143.80 then gave way to a drop back below 143 ahead of the US close, at 143.18. The range seen so far today has been covered by 142.86 to 143.55. So, it remains to be seen if the dollar will break out of that immediate range and which way that might be. Right now there still has to be more importance placed on a potential fall below the August 5 low, at 141.70, as that is likely to deliver a deeper move. There is very little on the US data release calendar today and as stated here yesterday, it is surely the CPI data tomorrow that is what the USD/JPY is really waiting for. There will be more to add on that in due course. Meantime, the USD/JPY is just now trading at 143.05
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