Analysis

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.

Japan equities were higher at the close on Thursday, as gains in the Transport, Rubber and Paper&Pulp sectors propelled shares higher.

Japan's Deputy Chief Cabinet Secretary Kazuhiko Aoki said on Thursday that he is “closely watching FX moves with a sense of urgency.”

Japan equities were lower at the close on Wednesday, as losses in the Shipbuilding, Power and Banking sectors propelled shares lower.

The pair printed a 12-week peak of 150.52, as US Treasury bond yields rose as traders trimmed odds that the Federal Reserve would embark on an aggressive easing cycle. At the time of writing, the pair fluctuates at around 150.50

USD/JPY broke down and out of its Rising Wedge pattern on Friday but has since recovered and returned back inside.

GBP/JPY has formed a right-angle triangle which indicates a breakout higher is likely.

The USD/JPY pair edges lower to around 150.05 despite the firmer US dollar (USD) on Friday during the early Asian session. Investors will keep an eye on the US Building Permits and Housing Starts, which are due later on Friday.