Via an overnight note from TD on the yen, continuing the ‘risk off’ theme I posted on here
Notes the move to yen in this bout of trade tension inspired risk off
- yen as a haven asset
- says such moves may be even more pronounced if situation worsens
- have with a bullish bias for yen (partially due to repatriation flows into Japan)
- major support at 108.50
- and if that gives way … ‘a flush towards 105 should not be ruled out’
Adding this in … 108.50 does seem support – but major? Dunno.