USD/JPY rebounds off the lows as European stocks kick off the final session of the month

The European stock markets have just reopened for the final trading session of the month and it has been a reasonably positive start to the day, despite all the data we have seen already this morning. The CAC 40 edged a little higher on the opening and so did the DAX. We shall have to see, if that is maintained. Meantime the USD/JPY has bounced from the earlier low. That saw the dollar slide to 149.54. It has just now recovered back to around 150.20 The rebound looks based on immediate short-covering, from what has been quite a hefty fall over the past 12-24 hours. As to how much further it might rebound from here is not at all certain and remember; there is potential for a good many more swings today, given where we are in the calendar. Also to note: later the US markets will all be set for an early close and participation levels will be sparse, as many US operators will be making a long weekend of it anyway. Add that to the month-end and conditions could get very thin later on. The USD/JPY is currently trading at 150.21