The USD/JPY saw quite volatile operations this morning, probably in reaction to the results of the elections of the upper house amid a scarce market liquidity, since Japan markets are closed by vacation. The USD/JPY was last seen in 147.92, the OCBC, Frances Cheung and Christopher Wong currency analysts point out.
The markets are attentive to what may come next
“The bullish impulse in the daily graphic remains intact, but there are signs that the RSI is lowering close to overcompra conditions. Support in 147.15 (38.2% of Fibonacci), levels of 146.20. Resistance at the levels of 149.40/70 They showed that the LDP-Komeito coalition is about to marginally lose the majority.
“At the time of writing, there is 1 more seat at stake. While the USD/JPY was negotiated irregularly, the torque did not rise significantly in a disorder that Japan’s credit qualification can face a reduction (according to Moody’s’s warning). “
“The leader of the Constitutional Democratic Party, Noda, already said at a press conference last night that the CDP party will once again present a bill to abolish the provisional tax on gasoline, with the aim of helping to reduce gas prices; 2) If the opposition parties can present a motion of censure, which would lead to greater political uncertainty. For now, the Prime Minister ishiba undertaked to remain in the position. reverse, while the markets are attentive to what may come next. “
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.
