Analysis

The EUR/JPY cross resumes the upside to near 164.30 during the early European session on Wednesday.

The GBP/JPY cross retraces its recent gains, trading near 195.50 during European hours.

Japan equities were lower at the close on Monday, as losses in the Real Estate, Shipbuilding and Financial Services sectors propelled shares lower.

The Japanese Yen (JPY) extends its losing streak against the US Dollar (USD) for the fifth consecutive session, following the release of Japan’s Q3 Gross Domestic Product (GDP) data on Friday. The upside potential of the USD/JPY pair is supported by the strength of the US Dollar (USD).

Japan equities were lower at the close on Thursday, as losses in the Precision Instruments, Automobiles&Parts and Power sectors propelled shares lower.

Japan equities were lower at the close on Wednesday, as losses in the Transportation Equipment, Shipbuilding and Trading sectors propelled shares lower.

Japan equities were lower at the close on Tuesday, as losses in the Transportation Equipment, Shipbuilding and Trading sectors propelled shares lower.

AUD/JPY retraces its recent losses from the previous session, trading around 101.20 during early European hours on Monday.

Japan equities were higher at the close on Friday, as gains in the Textile, Shipbuilding and Steel sectors propelled shares higher.

Japan’s Finance Minister Katsunobu Kato on Friday that he “will closely monitor the impact of Trump's policies on Japan's economy.” Additional quotes Won't comment on forex levels.

USD/JPY rose, as polls skewed in favour of Trump at point of writing. Pair was last seen at 153.91. Daily momentum is flat while RSI rose.

Japan equities were higher at the close on Tuesday, as gains in the Glass, Transportation Equipment and Banking sectors propelled shares higher.

NZD/JPY extended its decline on Monday, dropping to 90.90.

The US Dollar (USD) could trade with a downward bias; as momentum is not strong, any decline is unlikely to break clearly below 151.50. In the longer, USD advance from early last month has ended.

The Japanese Yen (JPY) gains ground on Monday as the US Dollar (USD) declines, possibly driven by rising uncertainty surrounding Tuesday's US presidential election.

The AUD/JPY pair remains subdued for the second day, hovering around 100.00 during the European session after the release of mixed Q3 Producer Price Index (PPI) data on Friday.

The Japanese Yen (JPY) retraces some of its recent gains following the release of the Manufacturing Purchasing Managers Index (PMI) by Jibun Bank and S&P Global on Friday.

Japan equities were lower at the close on Thursday, as losses in the Transportation Equipment, Rubber and Pharmaceutical Industry sectors propelled shares lower.

Japan equities were higher at the close on Tuesday, as gains in the Pharmaceutical Industry, Automobiles&Parts and Precision Instruments sectors propelled shares higher.

The JPY slumped at the outset of trading overnight in response to the results of Japan’s elections on Sunday, Scotiabank’s Chief FX Strategist Shaun Osborne notes.