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Abstract:WikiFX| Daily F.X. Analysis, Sept 2 |Arslan Ali Butt-KOL
[About The Author]
Arslan Ali Butt has been working in Forex market since 2013.
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MPhil- Behavioural Finance
Research In Investors Psychology
Cognitive Heuristics & Emotional Biases in Traders Decision Making
Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.
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Japan's Liberal Democratic Party (LDP) will elect a new leader to succeed the resigned Shinzo Abe as the next Prime Minister on September 14. This election, therefore, will be determined by the LDP factions rather than the country's public opinion. While Chief Cabinet Secretary Yoshihide Suga has taken a lead in the LDP's leadership race, he stressed to carry “Abenomics” forward with no novelty in his political platform.
A Majority of market participants are net long on this pair and have sustained the bullish trend move since the start of the half year trading session during the year but seems a short term sell-off may portend.
USD/JPY changed little in the last sessions waiting for a clear signal from JP225 and from the USDX. The Japanese Yen could lose more ground versus the dollar if the Nikkei will resume its upside movement.
The pair has broken a psychological level unseen in over two years this week, but could the Fed be doing more harm than good to the dollar? This week, it’s all eyes on the employment data, and what impact -- if any -- it could have.