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Could The JPY Really Be Considered A Safe Haven Currency?
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Could The JPY Really Be Considered A Safe Haven Currency?

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Could The JPY Really Be Considered A Safe Haven Currency?

By Benjamin Trotter:Price action has been all over the show recently, so we have a few questions relating to the USD/JPY for you all to ponder. Like most currency traders out there, I've established a long USD/JPY position, with my justifications below. Please feel free to comment if you agree / disagree with my opinions.

First - trade specs: Long USD/JPY @ 76.63 @ 1 standard lot. Simple enough. So here are a few things which make my mind go shaBAM...

1. Safe haven / psuedo-safe-haven / not-a-safe-haven-at-all

With all this Eurozone crises drama I can understand the JPY being treated as a safe haven currency. After all, with the Euro at risk of becoming the next Titanic, I too would be jumping in the next available life boat and heading for Asia.

The part I don't get is when comparing USD/JPY movements to those of other risk-based currencies. Take for example

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