USD/JPY lifts from Asian lows

The USD/JPY has struggled to hold its ground since this time yesterday and it has not made any lasting progress since peaking on Friday afternoon at just below the 146 handle. As mentioned here a few times already, that high at 145.97 was just shy of a Fibonacci price point at 146.08. The drop since Friday afternoon was extended earlier today, when the Japanese markets reopened. The dollar fell back to a low at 143.42. The dollar had closed in the US last night at 144.23. However, it has rebounded since that earlier low today and just now lifted back above the 144 handle. The driver for the further falls yesterday was all due to the noted relapse in US yields. However, those yields have steadied somewhat today and that has helped the dollar rebound just now. It is currently trading at 144.14