USD/JPY’s bounce from August 2014 lows met fresh supply ahead of 105 handle, as sentiment turned sour after  the Leave voters took back control, with Remain not as strong as being seen before.

  The lack of new steps in the monetary policy softening by the Bank of Japan supported the demand for the yen.

  As we see over the previous chart, market still holding Dollar/Yen near 3 months low as market holding safe haven after the last US non-farm data.

  The selling pressure behind the USD/JPY intensified as Europe got underway, knocking-off the rate to the lowest levels since May 3.  

  The uncertainty in global financial markets made investors look for safety assets: the US dollar and the Japanese yen. Meanwhile, the US dollar rose when Initial Jobless Claims unexpectedly fell (264K vs. expectations 270K).