The UJ pair was seen to move upwards after a better than forecasted US Employment data. It is sustaining its upward movement today as it is seen to rise towards 106.50. In a related news, the US Dollar Index moved up above 93.00 after the US jobs report.
Some factors that might have an impact on this pair include upcoming election of a new Prime Minister following Shinzo Abe’s resignation. The election is stated to be on Sept 14. Secondly, any updated in the Sino American tension might also cause investors to flock towards the safe haven Japanese Yen. On a brighter note, the coronavirus cases are reported to be falling in Japan.
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