USD/JPY rebounds with the Nikkei 225 as 141.70 holds for now

A final update here on Friday covering the USD/JPY price action noted the drop back towards 142 again and once more highlighted the importance of the August 5 low at 141.70. Well, literally a few minutes after that, the dollar dived from around 142.40 to test that 141.70 price point. In the event it did hold though and the USD/JPY managed to rebound from a low at 141.78, back above 142.50, before later closing out the week at 142.30. Earlier today the USD/JPY reopened in Asia at 142.35 and then fell back to a low at 141.96, but it has since rebounded to trade back above 143  (143.09 the high). Just as with the Nasdaq 100 futures, the USD/JPY has tracked the Nikkei 225 higher today and that is entirely consistent with the usual Yen/Nikkei 225 correlation. The USD/JPY is currently trading at 142.83