Japanese voters supported current PM Abe on the weekend. That means at least a couple more years of Abenomics, even though BOJ governor Kuroda may not be selected for the second term next year. Stocks liked this and yen was sold.
At least initially. USD/JPY gapped 30 pips at the open and extended that by about 25 pips but it was backing a filling from there. A late round of risk aversion took the pair down to the 113.25 support, from where it bounced. 114 is the the first stronger resistance.
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