USD/JPY huntng down 107 handle

Currently, USD/JPY is trading at 106.93, up 0.99% on the day, having posted a daily high at 106.96 and low at 104.96.

If Trump’s ideas are so awful, why are markets recovering?

USD/JPY is a strong performer, now through the 106 handle with eyes for the 107 handle and the highest levels since July earlier this year. The markets had all but price din a Trump victory, but even still, the bets were for a far stronger yen on risk aversion on Trump taking up the White House, based on fear. However, that has not been the case and instead, markets have got bullish on his policy reforms and the bond market has dropped on expectations of inflation picking up next year. 

Fed Hike Back On With Trump Win

USD/JPY levels

Spot is presently trading at 106.93, and next resistance can be seen at 106.96 (Daily High), 107.41 (Weekly Classic R3), 107.46 (Daily Classic R1), 109.03 (Daily Classic R2) and 112.17 (Daily Classic R3). Support below can be found at 106.65 (Daily 200 SMA), 106.32 (Weekly Classic R2), 106.17 (Hourly 20 EMA), 105.90 (Yesterday's High) and 105.89 (Daily Open).