USD/JPY reclaims 145 as Nikkei 225 rebounds

The Nikkei 225 has rebounded today and perhaps that is not too surprising given the more than 17% slide it suffered in just 2 consecutive trading days. The Nikkei is currently up by more than 10% this morning and that has helped to lift the USD/JPY back above the 145 handle. The USD/JPY had closed in the US last night at 144.18 after bottoming out yesterday at 141.70. The high seen so far today has been set at 145.36. That high is still just 1 pip shy of what might now be technical resistance at 145.37. That price point was the final technical correction level noted here in recent updates, which was taken out (like it was not there) yesterday, on the way to the low at 141.70. The low seen earlier today was set at 143.63. The move higher in the dollar also comes ahead of a meeting between the MOF and the BOJ, scheduled for 6am GMT. The USD/JPY is currently trading at 145.31