The US presidential elections 2016 will take place today and people around the world will remain vigilant on the latest developments because uncertainty is in the air. Latest polls have been forecasting a possible victory by the Democratic Party candidate, Hillary Clinton, against his Republican party competitor, Donald Trump, but it’s not a secret that people are taking political polls with caution. In the UK (Brexit) and Colombia (Peace deal with FARC), for example, pollsters failed to forecast the outcome of those events.
But in the forex market, analysts are looking for trade opportunities for any outcome that may arise after today’s elections. In our technical perspective, we’ll take a look at the USD/JPY pair at H4 chart, which had been favored by a bullish momentum, following the FBI decision on Clinton’s email probe. The pair bounced from the 50% Fibo level around the 200 SMA and it’s trying to break higher the 104.51 level. If USD/JPY manages to do it, then we can expect a rally towards the 106.54 level, and that could be triggered by Clinton’s victory. By the other hand, if Trump wins the presidency, safe haven assets such as JPY, will receive a fresh bullish momentum, with USD/JPY plummeting towards the 100.00 psychological level in a first degree.
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Origin: FX BAZOOKA
