Friday, risk-off day, FX focus on Yen crosses

• The tragic events overnight will see more focus heaped on escalating regional conflicts;
• Friday’s usually bring positional adjustments ahead of the weekend;
• Pairs like AUD/JPY are looking technically toppy in the shorter-term;
• Market still talking about very large stops sub-100.70 in USD/JPY (although semi-officials have been regularly buying dips in recent weeks).

I still like the short AUD/JPY play in the short-term.

Good luck and TGIF.