For a currency pair which is 25 pips off its 15-year lows, USD/JPY is certainly trading very soggily. It seems totally unable to bounce and what can’t go up, must go down I suppose. Then again, I remember some years back in 1993/1994 when USD/JPY used to trade a 15 pip range for what seemed like weeks on end.
The Nikkei has bucked the regional trend after making some early gains and its now -0.3%.
