USD/JPY selloff stalls at 78.30
USD/JPY dropped more than 70 pips during the FOMC-inspired selloff today, extending a leg to as low as 78.30, a price not seen since August 13. The move came on the back of heavy USD selling interest after minutes from the Federal Reserve's August meeting showed that the central bank was considering further stimulus. Jamie Coleman, editor at ForexLive notes: “Support lies in the 77.90/78.15 area. Huge stops lie below the former level but expect Japanese semi-official names like Kampo to be buyers on the approach.” USD/JPY last trades at 78.45