 Risk sentiments are knocked down heavily in Asia after Trump confused the markets by announcement to push trade war with China to full blown level. Just as investors were told dozens of times by Trump and his administration that both sides were "very close" to a deal, Trump made an about turn to decide to impose new tariffs on Chinese imports. Investors were left clueless on what's next as they were originally prepared for a deal to be announce somewhat in Washington this week. As Asian markets and DOW futures tumble sharply, Yen rides on risk aversion and surges around the board. Swiss Franc Dollar follow as the next strongest as usual in such situations. Australian Dollar is the weakest one, partly for its tie to China, partly on speculation that RBA could pull ahead rate cut to this Tuesday. Sterling is the second weakest for the moment, paring some of last week's strong gains, then Canadian. Technically, USD/JPY's steep decline solidify the case of near term bearish reversal. That is, rebound from 104.69 flash crash low has completed at 112.40. Immediately focus is now back on 109.71 support for confirmation. EUR/JPY also breaks 123.65 support today as fall fro 127.50 resumes. Focus is now on 123.39 key support level. Decisive break the will align the outlook with USD/JPY for bearish near term reversal too. AUD/USD also resumes recent fall by braking through 0.6984. Though, EUR/USD, USD/CHF and USD/CAD are range bound. In Asia, currently, Hong Kong HSI is down -3.22%. China Shanghai SSE is down -4.9%, losing both 3000 and 2900 handles. Singapore Strait Times is down -3.24%. Japan remains in 10-day holiday. DOW future is currently down -465 pts. | 
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