Yen demand notable again as China prepares trade tariff retaliation

USDJPY leading the way again with a sharp dip to 106.08 21 March

Down but not out for yen pairs with USDJPY back up to 106.24 from whence it came as WSJ reports China preparing US trade tariff retaliation including levies targeting U.S. agricultural exports from farm belt states.

AUDJPY took a hit particularly and probably the prime mover and we've seen AUDUSD test good support/demand around 0.7675-80 again.

Hedge fund fave GBPJPY also got slapped and helped GBPUSD down to 1.4043 taking out some intra-day demand at 1.4050 after failing into 1.4080.

EURUSD also lower at 1.2270 as EURJPY falls to 130.20.

Some decent levels of dip-demand around though not least of which the option-related interest so don't get carried away just yet. Oh and there's the not so small shadow of a Fed rate hike looming too.

AUDJPY