USD/JPY plunges as Asian equity rout triggers safe-haven flows to yen

USD/JPY has tumbled sharply during the Asian session as a widespread equity market selloff drives investors toward safe-haven assets. Asian stock markets are experiencing their worst losses in six months, with major indices down 3-5% across the region. The risk-off sentiment has been amplified by geopolitical tensions, including reports of potential US military action in Venezuela and warnings from South Korean intelligence about an imminent North Korean nuclear test. China's announcement to suspend 24% US tariffs from November 10 while maintaining 10% rates provides limited relief to market anxiety. The yen's traditional safe-haven status is reasserting itself amid the turmoil, with USD/JPY breaking below key support levels. Technical indicators suggest further downside potential if the 148.50 support fails, with the next target at 147.80. Traders should monitor developments in geopolitical tensions and any potential Bank of Japan intervention signals.