USD/JPY very much in the spotlight at 12.30pm GMT

The USD/JPY is close to session lows right now. Earlier the dollar reached a new rebound high from the lows underneath 140. The USD/JPY rose to 145.92, as reported earlier this morning. Well, since falling back below 145 this morning it has really struggled for traction and despite rebounds in the GBP/USD and EUR/USD, taken the EUR/JPY, and particularly the GBP/JPY lower with it. In fact the USD/JPY just now printed a session low at 144.37. That is more than 150 pips off the earlier high which is quite a move ahead of these US jobs numbers. So, does someone know something we do not? Possible as always, but we will never ever likely know. At the same time we should also remember how much the USD/JPY has rallied already this week and hence a pullback is not that surprising, given the importance of this jobs data today. Whatever happens after 12.30pm GMT you can bet the USD/JPY will be front and centre in the price action. The USD/JPY is right now trading at 144.48