USD/JPY takes out support at 150.93 in a rush as Nikkei 225 falls

The USD/JPY has fallen through a support level noted here previously and that was the interim low, at 150.93. The reader might remember there was a double bottom on the daily charts at 150.96 and 150.93 that was highlighted here earlier in the month. Well, the dollar has taken that today and surely tripped stops on the way to a low so far at 150.19. That is also a new 2025 low for the USD/JPY. The slide in the USD/JPY today has taken the EUR/JPY and GBP/JPY lower with it. The fall in the USD/JPY has also been facilitated by another drop in the Nikkei 225 this morning, which is leading the Asian markets lower today. The driver for all this could be due to the proximity of the latest National Japanese CPI report due at 11.30pm GMT this evening. The markets expect that data to show a further rise in what is already accelerating Japanese inflation. There will be more to add on that later today. Meantime, the risks of a test of the 150 handle in the USD/JPY look very high right now. It is currently trading at 150.33