The yen hovered around 147.5 per dollar on Tuesday, holding its 1% gain as markets digested Japan’s election outcome. Despite the ruling coalition losing its upper house majority, Prime Minister Shigeru Ishiba is likely to stay in office, easing political concerns. Ishiba confirmed his continued involvement in US trade negotiations. Meanwhile, opposition parties are expected to advocate for fiscal stimulus and tax cuts, which could pressure the yen and push bond yields higher. Trade discussions with the US remain on schedule for the August 1 deadline.
Resistance is at 147.75, with major support at 146.15.
Resistance is at 147.75, with major support at 146.15.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.