USD/JPY slips back below 146

As you know, yesterday the USD/JPY reclaimed the 147 handle. The problem was; it was not able to hold onto it. Even as the US service sector ISM delivered an immediate rebound back above that 147 level again, it immediately ran into sellers above the level once more. Earlier in the day the USD/JPY had lifted to a high at 147.24, before later falling back ahead of the ISM report. The spike higher immediately following that data saw it reach 147.17. Perhaps it was the failure to get past 147.24 which was its undoing? So, later the dollar dropped back and later closed in the US at 146.93. It has done nothing but drop back so far today. Please look at a chart to see that price action. The dollar has just this minute hit a session low at 145.92. That fall comes even as the Nikkei 225 just about holds in positive territory this morning. Of course this move lower could all be about paring dollar longs ahead of the US monthly jobs report later today. There will be more to add on that data as the morning unfolds. The USD/JPY is currently trading at 145.96