Hey guys,

Markets and traders are concerned about any possible implications of a renewed tense environment between the United States and China. Did anyone say the words trade war again? Uh oh!

US president Donald Trump has said that he’s taking action because China has raised tariffs on US exports, saying:

“We have no intention of changing unfair practices related to the acquisition of American intellectual property and technology.”

Trade.

War.

This all comes on the back of the US Federal Reserve not only hiking rates last week, but signalling to the market that they intend to hike at a faster pace than the market was pricing in.

As a result, all this put together means we’re in a pretty obvious risk off environment and the Japanese Yen is the savehaven trade that every trader wants to be in today.

Just check out the intraday chart:

USD/JPY 15 Minute

But this wouldn’t be a forexbrokr blog without me talking about technicals doing the real talking and if you’ve followed me for a while, you’ll know the types of zones that I look for a reaction around.

The following chart shows one such higher time frame example:

USD/JPY Daily

Again, just like yesterday, momentum is strong enough to see us conservative traders not really being given an opportunity to enter.

Frustrating, but that’s markets!

✌🏻.

Return from Japanese Yen is the Savehaven Trade that Everyone Wants to be in Today to forexbrokr's Web3 Blog