GBP/JPY and USD/JPY Threaten Breakdown, Major Risk for Bulls

Talking Points:

- Markets entering risk-off phase?

- GBPJPY and USDJPY show signs of topping in the medium-term.

- Only one high ranked event on the economic calendar today for USD.

To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.

The Japanese Yen is gaining momentum as global equity markets slip - risk-aversion is coming back into play. We're watching GBPJPY and USDJPY.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.