The USDJPY is under pressure again today amid another bout of risk aversion.
Although we aren’t seeing the kind of volatility spike as that of May 17th, one can’t help but notice a theme beginning to develop across some of the yen pairs.
As you may well know, the Japanese yen is highly sensitive to risk, so when volatility increases, market participants tend to pile into safe havens such as the yen.
The shift causes the currency to rise and pairs like the USDJPY to fall.
This dynamic is becoming more prevalent not only in the USDJPY but also in pairs like the GBPJPY and AUDJPY.
And as long as that heightened sensitivity to risk remains a key factor, the yen will continue its ascent.
Daily Price Action
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