• European shares fall as investors on edge before US tariffs

• With risk aversion on the rise, funds usually flow into the safe-haven yen

• USD/JPY has seen a 149.51-150.00 range, on Wednesday, EBS data shows

• USD/JPY options increase downside protection costs

• USD/JPY recovery was limited by key 151.26 Fibo last week

• 151.26 Fibo is a 38.2% retrace of the 158.88 to 146.55 EBS drop

• EUR/JPY is at risk of bucking its usual positive April trend

Weekly Chart:

(Martin Miller is a Reuters market analyst. The views expressed are his own)