Japan Provides Election Stability

Morning Report: 07.00 London

• This morning, the Japanese yen is under performing after an overwhelming election victory for Shinzo Abe’s party. The news has provided confidence for Asian markets, reducing demand for the safe-haven yen. The yen pairs are all trading higher, led by the GBP/JPY.

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• The dollar pairs are generally mixed, with the bulk of the action taking place on the yen pairs. One stand out loser is the NZD/USD which is slipping lower this morning.

                   

• Meanwhile, the British pound continues to stabilise, with the EUR/GBP trickling lower.

Coming up today:

•  It is a quiet day ahead today, with the euro group meeting probably the only item of note.

Trade Idea:

• The USD/JPY is on the rise this morning, but we may not see a rapid rebound from here.
   
                       

There is still much uncertainty across the world, with the Japanese yen acting as the world’s favourite safe-haven.
A good way to play this is a LOWER trade predicting that the USD/JPY will close below 101.00 in 14 days for a potential return of 170%

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