Chart of the Day USD-JPY

Yesterday has been a total bloodbath in the Equity market as Oil price war broke out between Russia & the Saudis adding to the global Corona Virus fears. Which meant huge demand for safe heaven Japanese Yen while we saw huge risk of sentiment prevailing on the global Equity market with major US Indices hit their intra day trading circuit breakers. Today we are looking for a short from 104.70 stop above 105.40 and targeting yesterday’s low near the 101 handle & any further push downwards near the August 2016 lows.