FXstreet.com (Barcelona) - The Yen seems to have lost its safe haven status among investors, Yen crosses have rallied strongly during the last two weeks, and the reason does not seem to be an increase of risk appetite, but concerns over Japanese economy entered in troubled waters.
USD/JPY shows a brilliant example of yen Trends, after having Bottomed, twice, at 87.00 in Dec 17 and January 21, the pair rose to levels below 90 for approximately two weeks and after an attempt to rise higher, the USD/JPY touched 89.81 on February 12 to kick start a historically rally. In one month the USD/JPY has gained around 1,000 pips.
GBP/JPY has rocketed. After a having reached its lowest level in 30 years, at 118.87 in Jan 21, the Pound has rallied above 1.41.00. Similar path has followed the EUR/JPY, it sank to 112.04 on Jan 21, and on Feb 24 the pair reached a high at 127.72.