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Trump is said to have ordered 200B worth of tariffs on Chinese goods. That's an escalation from previous 50B - 100B clips. Risk markets understandably don't like it, and have sold off. Yen is the preferred currency so far today. USD/JPY fell below 200 DMA and 110, to as low as 109.70. We'll see if we get any follow-through as European markets open.
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USD/JPY breaks below 105.30
USD/JPY finally broke below 105.30 support in thin conditions. Trump's tariffs spurred some retaliatory measures from China, which has not helped risk sentiment and the pair. The decline has been orderly so far but I'm sure BOJ officials are near their screens, and phones. 105 - 105.30 should now act as a resistance. 102.5 - 103 is the next target.