USDJPY - Long - Despite Pullback

We still see USDJPY moving higher despite a pullback below 108 on the back of tensions in the Middle East as there was increased demand for the YEN as a safe haven asset. We were encouraged that the currency pair has rebounded to 108.3 and now see support at 108.1 as we see further upside on continued stock market strength boosted by the US and China agreeing to sign phase 1 of a trade deal on the 15th of January.