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USD/JPY so far ignores Nikkei 225 slide
The USD/JPY is holding above 145 as this update is written. At the same time the Nikkei 225 has crumbled by around 4.5% and that is the deepest fall since the August 5 meltdown. The markets are clearly spooked by the recent memory of that today. So, given the losses in the Japanese stock market today, there could be a case for expecting the USD/JPY to be lower this morning, but as you can see it has not followed suit and that is something of a departure in the usual dynamics. The range seen so far this morning has been covered by 144.89 to 145.57. The dollar closed in the US last night at 145.48. However, should the Yen rebound further from here, we have trend line support in place today at 144.30. The USD/JPY is currently trading at 145.25
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