JPY weekly preview
- Big week ahead with the general election next weekend:
- USD/JPY stuck in a range between 81.70/82.80; break below could signify a topping formation whereas bullish break would suggest that we were in consolidation phase:
- Speculative market is likely quite short of Yen heading into the election so we should see some volatility:
- EUR/JPY starting to look tired and we may see a test of break-up level at 104.80:
- Host of data later today and markets reaction will give valuable insight into comfort levels and positioning.