Yoshihide Suga has been elected the leader of Japan’s governing party, garnering a total of 377 out of 534 votes. What’s next is the vote in Japan’s Parliament on Wednesday.
The Yen shows signs of strength following this news. USD/JPY pair leap of 105.66 to extend Monday’s losses. Below 105.50, the next support would be at the 105.05/10 levels which are August lows, while a recovery above 106.00 should the pair in the current range. A further break past 106.50 could open the door toward 107.00.
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