The Japanese yen surged 1 percent or more across the majors, with the sharpest moves reflected in the commodity-sensitive AUDJPY and CADJPY as crude oil futures settled down 3.7 percent at $69.29/bbl. The concurrent 22 point loss in the Dow Jones Industrial Average suggests that risk aversion was in play, but it has been made apparent that the US dollar isn’t really trading as a safe-haven asset, which has allowed greenback and Japanese yen price action to diverge. As a result, USDJPY has taken a substantial hit in recent days and closed down at the lowest levels since February, and according to Technical Strategist Jamie Saettele, USDJPY could ultimately target the 2009 low of 87.10.