After a 4-day period of decline, the USD/JPY currency pair has appeared to bounce back towards the end of yesterday's trading. The pair was trading within a steady bearish channel since Monday, but today's downturn of the USD against most currency rivals has resulted in a rebound of the Dollar against the Yen. Upon reaching a weekly low of 92.74, the pair has recent popped back up to 93.48 in today's early morning hours.
Similar results were experienced against the EUR, GBP, and CHF this morning as well. A broad sell-off of Japanese Yen appears to have taken place as stocks rebound moderately and investors pull their money out of the traditional safety of the island currency. With a somewhat light news day ahead, the Yen may not be able to overcome these recent losses until next week.