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USD/JPY rebounds to session highs touching 150.50

Over the past 20-30 minutes or so the USD/JPY has been on the rebound and that rebound has just touched 150.50, which is a new session high for the dollar. The move higher comes amid a corresponding rebound in US equity futures and rebound in the major Yen crosses. That said, the price action in the USD/JPY is still extremely fluid and this rebound high remains well below the highs seen last night, just after the unchanged Fed policy decision. The means the next resistance level remains in place at 151.26. The USD/JPY is currently trading at 150.47

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