Yen gives back some of yesterday's big gains

|By:, SA News Editor

Dollar/yen is ahead 0.3% to ¥101.26 after plunging below ¥101 yesterday amid the rout in stocks in the West. The dive was felt in the overnight trading session in Japan where the Nikkei plunged 4.2%, bringing its losses to what can be considered a crash-like level of 15% in a month.

Putting the 15% dive in perspective, the Nikkei was last at this level at the start of November. If January's move is a crash, than the move at the end of the year was a blow-off top.

Japan ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, DBJP, NKY, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JPP, JPNL, JPNS, FJP