Japanese Currency Index (JXY): As a measure of risk, the Yen is often considered a safe-haven. Over the longer term the price is nearing a breakout, highlighting the potential for a global‘risk-off’ scenario. In the short term and from a trading time frame perspective a print around 92.50 may signal a 'short term' bottom in equities. Medium to longer term, technical structure of the Yen pints to higher levels suggesting a bearish equities scenario.