The USD/JPY continued to quote under pressure after the electoral result. The price action suggests that there was too much pessimism in the price. The pair was for the last time in 147.50, the FX analysts of OCCBC, Frances Cheung and Christopher Wong point out.
The bullish impulse in the daily chart shows signs of fading
“Therefore, a pause for now while the markets monitor the risks ahead. We also notic Sow (according to the warning of Moody’s). gasolinewith the aim of helping to reduce gas prices. “
“Second, if opposition parties can present a motion of censure, which would lead to greater political uncertainty. Potentially there may be only a slight possibility given the narrowest triumph than expected for the opposition, since there may be not enough unity within the opposition. But from a structural point of view, it remains to be seen if the LDP-Komeito coalition will prefer a different leader or require more reforms to attract more reforms to attract more reforms to attract more reforms to attract more reforms to attract more reforms to attract more reform Younger voters.
“This can help temporarily stabilize USD/JPY up to a point. The bullish impulse in the daily chart shows signs of fading while the RSI turned down. Support in 147.15 (38.2% of Fibonacci), levels of 146.20. Resistance at levels of 149.40/70 (200 -day SMA, 50% fibonacci setback of the maximum to a minimum of 2025). “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
