Relationship Between Abe and Japanese Yen| KOL Forex Analysis•Jasper Lo

Shinzo Abe, the longest-serving Japanese Prime Minister in history, has suddenly resigned on August 28, citing health reasons. He will remain in his post until a successor is chosen. Mr Abe said he would still participate in the parliamentary vote and would not completely withdraw from politics.

On September 26, 2012, Shinzo Abe was elected as the president of the Liberal Democratic Party and won the general election later on December 26 in the year. After he became the president, the Japanese yen shrank from the peak of 77.13, while after he became the Prime Minister, the country‘s currency kept slipping till June, 2015 and bottomed at 125.86. The reason is the well-known 'Abenomics', which aimed to stimulate Japan’s exports and prevent the worsening deflation by exerting a big depreciation in the value of the currency.

Japan‘s economy once recovered because of the Abenomics, and investors even regained confidence amid the successful Olympic bid. However, no one has ever expected that the outbreak of COVID-19 would completely destroyed the Abenomics and made Abe drained and resign from his post. After Abe announced his resignation, forex traders bought the yen aggressively as no one could anticipated who’s his successor and whether the following policy would be in line with Abes.

On the other hand, Japan‘s stock markets went into a tailspin on the news of August 28. With the unwinding of carry trade and the rising risk aversion, the yen appeared to be strong and popular again. Under the Japan’s uncertain political situation coupled with the continued weakness of the U.S. dollar, the yen has the opportunity to maintain its strength in the short term and challenge the two major resistance levels of 104.19 and 101.48.

[About The Author]

Since 1987, Jasper Lo has been engaged in the financial industry

(forex, futures and gold) for more than 32 years and holds forex R.O.,

securities and futures broker licenses. Mr Lo is an expert in trading

forex, precious metals and commodity futures and an basic and technical

analyst.

Over the years, Mr Lo won many individual and team sales champion

awards, as well as outstanding employee awards. He was invited, as a

guest mentor, to the University of Hong Kong, Guangdong Ocean University

and Guangzhou Jinan University. And he was also appointed as the chief

training consultant by Hantang Securities and Dongguan Securities in

China.

Mr Lo's experience as guest of honor invited by media including Chinese and English newspapers and columnist:

-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch

-Guest of honor invited by Now Finance Channel - Forex Reports

-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities

-Guest of honor invited by ViuTV - Investor Smarter Group

-Columnist of Finance and Forex Market of Ming Pao

-Presenter of Finance and Forex Forecast of Ming Pao

-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance

-Appointed lecturer of Ming Pao Investment Seminar and Paid Course

-Author of the best seller Investment 36 Stratagem

-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net

-Guest of honor of Open Good Morning of ET Net

-Guest of honor of Metro Finance Channel - Market Opening, Instant

Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market

Analysis

-Guest of honor of New Era of Investment of RTHK

-Columnist of Capital Commodities of Capital Weekly

-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond

-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture

-Guest presenter of Weekly Investment in the World of Enrich Culture

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