INSANE CRASH IN USD/JPY AND THE DOLLAR INDEX USD/JPY dropped from 158.48 to 156.65 in a single 15-minute candle, over 180 pips. The DXY fell from 99.90 to 99.40 in the exact same candle. The dollar is being sold everywhere. The US jobs report just came in negative, with the economy losing 23,000 jobs against expectations of a 85,000 gain. That killed the case for a Fed rate hike. Lower US rate expectations mean lower returns on holding dollars, so traders sell them. And when the dollar falls, it falls against every currency, which is why the DXY dropped just as hard. This is exactly what Japan needed. It spent $160 billion this year trying to push USD/JPY down and it kept coming back. A weaker dollar does the same job for free.