USD/JPY spent much of this past week rising moderately as global equity markets regained some measure of stability following a highly volatile beginning of the new year. This changed dramatically on Friday, as falling stock markets around the world were pressured further by plunging crude oil prices. This resulted in a flight to the safe haven Japanese yen, which rose considerably against most other currencies. This yen surge could readily be seen on the USD/JPY chart. For much of the week, the currency pair had been rising in a .....
