As the yen continues to be seen as a safe haven from the current uncertainty of equities, it continues to charge form and buying strength seems strong over the next 3-5 days. It’s been rumored that the strength of the yen may be primarily due to the unloading of yen-funded trades across a wide range of asset markets fueled by fears of the spread of COVID-19 and not Japan’s fundamental economic strength. Regardless, technical analytics are indicating strong buying power for the Japanese currency in the short-term. Long-term, however, remains uncertain as we watch to see how a lack of tourism and global economic activity may cause investors to continue to retreat into the yen, or rotate out of the markets altogether.