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USD/JPY on the way back for another test of 142
Yesterday the USD/JPY was buoyed by the seemingly benign price action across the European and early US equity market moves. There was no risk aversion in place to help the Yen gain. So, the USD/JPY lifted above 143.50. However, as the session progressed the dollar fell back and dropped towards 142.50, before another rebound into the US close saw it end that session at 143.21. However, it has fallen back today and that has seen the dollar take out the lows seen yesterday afternoon and drop below 142.50 just now. That means the US currency is now closer to the 2025 low seen on April 11, when it based at 142.07. The risks of the dollar falling below that low today look pretty live right now, as the US equity futures fall back further since the last update here this morning. The USD/JPY is right now at 142.31
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