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USD/JPY slides further
Following earlier updates noting the failure of the USD/JPY to hold its immediate post PPI bounce, the dollar has slumped again this afternoon. The USD/JPY has just now fallen sharply to a new European session low at 157.55. The price action is rapid to care and precise diligent trading is required folks. Things can change in the blink of an eye this afternoon and you were warned about that in earlier updates. The talk around the market right now; is this is the hand of the BOJ once again. That might be true but the price action does not necessarily reflect that yet. Perhaps if the dollar falls below the lows seen yesterday, at 157.44 then it might extend on the downside again- we shall see on that. The USD/JPY has in fact just done that falling to a new low on the week, at 157.38. It is currently trading at 157.69
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