Relief for the USD/JPY; a +200 pips bounce to 118.50

FXStreet (Boston) - The US Dollar is taking a breath in its collapse and the USD/JPY has just bounced 200 pips from 116.15 to current 118.40. However, the pair remains 355 pips down on the day from Monday's open around 121.95

At its ugliest moment, the USD/JPY was around 580 pips down at 116.10, lowest since January. Now the US Dollar is trading calm around 118.15 against the Japanese Yen.

USD/JPY levels

If the pair manages to extend losses, it will find supports at 117.80, 117.00 and 116.15. To the upside, resistances are at 118.80, 119.00 and 119.20.