Political chaos in Japan collides with key chart setups

The yen’s momentum reversed sharply on Friday, perhaps getting ahead of the weekend’s news. Japan’s Prime Minister Shigeru Ishiba announced his resignation following growing pressure within his party to accept responsibility for a historic loss of power in this year’s election. 

As the new trading week begins, the outlook for the yen remains fragile. Unless volatility in Japanese government bonds subsides, USD/JPY, EUR/JPY, and GBP/JPY potentially all look tilted to the upside. 

This week’s domestic calendar will also draw attention, with final Q2 GDP, August producer inflation, machine tool orders, Reuters Tankan results, and key manufacturing sentiment surveys all in focus. 

For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.        

Trading involves risk and may not be suitable for all investors. The information provided in this article is for educational purposes only and does not constitute financial advice. Always conduct thorough research and seek professional advice before making any investment decisions.

Economic Calendar

Most Traded

Trading Opportunities

Bitcoin establishes early Uptober support base?

Positioning for a U.S. government shutdown: gold, Nasdaq 100, EUR/USD

Critical jobs data you need to watch this week

Fed speakers and data drive markets | FX Research

Limited offer:

Get Free

The TraderKeys keyboard can take your gold trading to the next level, with preprogrammed hot keys enabling you easily execute and modify trades.

Join Now