KQMarkets

USD/JPY Still Long Above Key Support

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
We still have a long view on USDJPY as the currency pair has not consolidated below key support at 107.6. However, we are weary that the turmoil in the oil markets could continue to spread to equities and lead to a flight to safety causing the YEN to appreciate in the near term.