USDJPY 4 HOUR CHART – TYPICAL FALSE START?
As I noted in the Weekly FX Chart Outlook
Note the start of a new quarter and post-summer often sees false starts and whipsaws until market settle on a theme and recover full liquidity.
Well, there was one already in USDJPY after it failed to reach 147.34 (high 14t.20) as has since back off.
Catalyst: Weaker equities (risk off)
This ;leaves 145 as the ultimate bias setter in a market that will keep an eye as to whether this correlation continues.