 Yen and Swiss Franc jump sharply as markets turned from strong risk appetite to risk aversion. Despite record closes in US stocks, Asian markets tumble on fresh geopolitical tensions in Middle East. Oil prices also skyrocket together with gold, while treasury yields tumble. In the currency markets, Australian and New Zealand Dollar are the weakest ones, but Euro and Sterling are not too far away. Technically, the most important development overnight was the break of a key near term support in USD/JPY. Its rebound from 104.45 could have completed at 109.72 already. Further fall is now likely to 107.70 fibonacci level first, then 106.48. EUR/JPY should at least attempt to test 119.99 key near term support. EUR/GBP's breach of 0.8476 minor support yesterday was probably a false break. GBP/JPY's break of 142.42 argues that recent recovery has completed. GBP/USD is pressing 1.3105 and break will align the outlook with GBP/JPY. In Asia, Japan remains on holiday. Hong Kong HSI is down -0.17%. China Shanghai SSE is down -0.30%. Singapore Strait Times is down -0.52%. Overnight, DOW rose 1.16%. S&P 500 rose 0.84%. NASDAQ rose 1.33%. All were new records. 10-year yield dropped -0.037 to 1.882. | 
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