USD/JPY rebounds from earlier lows as EUR/USD hands back a push above 1.1225

Earlier this morning the USD/JPY did take out the low point seen yesterday, at 145.61. The break below that price point did extend, but not by very much. The USD/JPY fell to 145.49. However, it did not stay down there for long and it has since pushed back towards 146. That rebound has stymied the earlier rise in the EUR/USD, which reached 1.1228. It has since dropped back below 1.12 once more. The point about all this price action is that it is pretty inconclusive and a true direction ahead of the close tonight might have to wait until we see all those US data releases and comments from the Fed boss this afternoon. What is clear though; FX volatility remains elevated relative to what we have been used to before last month. So, lots more swings and roundabouts to come today for sure. The USD/JPY is right now at 145.80