USD/JPY bouncing after setting short-term low at 96.81; target at least 97.55
FXstreet.com (Barcelona) – After threatening to test par (100) back on 8/23, the USD/JPY cross has tumbled all the way down to 97.09 now after spiking down to 96.81 at midnight GMT today.
The Yen has seen all the currency inflows of the current safety trade
Typically, when people say “safety trade”, it indicates the buying of Yen, US Dollars, Swiss Francs, Treasury Bonds, German Bunds and sometimes gold and silver and the selling / shorting of euros, Aussie Dollars, Canadian Dollars, stocks and sometimes crude oil. With this Syria-induced nervousness, global investors and traders decided to put on …read more