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USD/JPY trips stops below 155.95

Since an earlier update here, the USD/JPY has taken another hit to the downside. The fall below 155.95 has clearly tripped stops and may have enticed system sellers to jump in through the level. The low seen after that break was set at 155.81. The immediate risk continues to look to be on the downside right now and ahead of the US jobs report on Friday perhaps too? We shall see on that, but right now, there does not seem too many reasons to take the dollar significantly higher. That will require a rebound in US yields and that is not apparent this morning. Of course a day in this game is a long time, but for now the tail wind is not behind the US currency it seems. The USD/JPY is right now trading at 155.88 and perhaps the fall in oil prices again today is a factor supporting the Yen in the short term too?
 

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