USD/JPY bounces from the lows
The stock market remains in a tizzy but yen crosses are showing some preliminary signs of life. From a low of 116.60 USD/JPY has rebounded to 117.10.
The larger bounces are in CAD/JPY and AUD/JPY, which are both up 70 pips from the lows.
The real tough question right now is whether it will last. Oil is in the midst of a bit of a bounce so perhaps the signal is that this is final flush before the turnaround?
It could just as easily be another dead-cat bounce.
In situations like this, no one knows anything and unless there is a headline that turns it around, there's no way of knowing. If you're trading, the way to do it right now is technical analysis and doing like Greg says and limiting risk. Make a plan and stick with it.
