USD/JPY Higher After Election Night

USD/JPY started the Election day very uncertain and when the initial results were published with Trump in the lead the pair took a nose dive. Due to the hype around Trump not having a clear vision about the economy and financial stability, the market interpreted the news negatively and the US dollar depreciated resembling the Brexit crash of June 24.

However, the markets quickly digested the fact the the newly elected President of the United States is named Donald J Trump and the US dollar recovered. Today, the situation is even better than before the election. The Greenback is going strongly to the upside as all USD pairs are feeling the boost.

More specifically, the USD/JPY. Today the pair has gained new points going from a low of 101.17 yesterday to a high of 106.92. Current market price is 106.50 and the pair looks very bullish still.

The Election caused a lot of volatility and the effect could be still be felt around the global market.

Chart: USD/JPY M15