The Japanese yen gained against most of the majors on Friday, as conditions were indicative of market-wide flight-to-safety. Indeed, the DJIA and S&P 500 both fell more than 3 percent on record high oil prices and signs of weakness in the US economy. Clearly, risk trends remain the primary driver of the Japanese yen and as a result, traders should perhaps keep an closer eye on broad market conditions rather than economic data specifically.