USD/JPY creates reversal as trade war re-ignitesU.S. Dollar / Japanese YenFOREXCOM:USDJPYFOREXcomThe USD/JPY has reversed along with many other FX majors and indices, as markets have turned risk off all of a sudden. Today's bearish engulfing candle could the the start of a new bearish trend on the USD/JPY and we could see 150.00 in early next week, and potentially lower. Markets were in desperate need of a catalyst for volatility, and it seemed like nothing would shake things up as the weekend approached — until suddenly, that changed. It now appears the trade war with China has officially reignited. Trump threatened a “massive increase in tariffs” on Chinese goods, citing China’s recent restrictive export measures on rare-earth minerals. The announcement sent shockwaves through financial markets: stocks and crude oil tumbled, the dollar slumped against the yen, and risk-sensitive currencies like the Australian dollar weakened sharply. Buckle up! By Fawad Razaqzada, market analyst with FOREX.com