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USD/JPY leads Dollar rebound and reclaims 155

The rebound in the dollar has again been led by the USD/JPY and now the Yen has weakened past 155 today. The USD/JPY closed last night in the US at 154.69 after a steady rise from below 154 earlier in the day. It has so far traded in a similar fashion today, reaching a high not long ago at 155.27, after a potential resistance level at 155.03 was surpassed. The move higher in the USD/JPY today has forced both the EUR/USD and GBP/USD lower again, but more on those in updates to follow. The USD/JPY is now trading back above its 21 day moving average (in place right now at 154.79). The next potential resistance level is in place at 156.01 (50% of 160.17-151.86 fall). The USD/JPY is currently trading at 155.16

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