A Fundamental surge occurred on all of the Japanse Yen's charts, which was caused by the sudden surge of the Japanese currency on Wednesday. One of the many explanation to the move was published by investing.com representing analyst Pinchas Cohen.
"We maintain though that the safe haven currency is benefiting from a a different, more local driver: the repatriation of Japanese investors, who extensively shed their Turkish bond holdings.
While Japanese investors are typically conservative, negative domestic yields had incentivized them to look for more profitable assets—in the form of the 14 percent yield offered by Turkish bonds, which they were willing to increase exposure to despite Turkey's double-digit inflation and a growing current account and budget deficits."