USDJPY - Short

4 Jan 2020

The Stock markets are taking a hit and the safe haven currencies like JPY are in big demand. While it is true that last time this happened, the attacks on Saudi in September, the trade did not work out. However, now its different, the demand for safe haven currencies seems to be increasing with the escalation of the Iraq conflict. Many analysts are comparing this time to september and are infact recommending a long trade on USD JPY instead of short. That may be true in the long term, however in the short term all indicators point to a short until we see resolution of the conflict in middle east. Please do your own analysis before trading.