USD/JPY continues to unwind the run up from before the Japan snap election
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The USD/JPY pair is experiencing a decline following Japan's snap election, with traders cautious amid intervention risks. Prime Minister Takaichi's strong mandate is expected to influence fiscal plans, yet the market is currently favoring sellers. A weaker dollar and declining US Treasury yields contribute to this trend, with the pair poised for a third consecutive daily drop. Key levels to watch include the end-January low near 152.10-15, with potential for further retracement towards 150.00. Despite current profit-taking, analysts anticipate a future rise towards 160.00 before potential intervention.
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