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USD/JPY lifts back above 145 as markets digest BOJ rate hike potential

Since my last update here on the USD/JPY there has been quite a bit of rapid price action and following that update, the dollar has fallen and then rebounded just now. The earlier noted important support at 145.07 did give way to stops in place below it, at the second time of asking and that led the dollar crumbling even more. The low seen was set at 144.55. However, it is now rebounding and currently back above 145 and that 145.07 level, as the markets digest whether or not they got ahead of themselves on the outlook for a BOJ rate hike on December 19. The rebound in the USD/JPY has also helped the major Yen crosses off their session lows, for the very same reason. The USD/JPY is currently trading at 145.12
 

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