Japan election: Abe set to win key upper house vote | Forex Factory

Japan election: Abe set to win key upper house vote | Forex Factory

Japan election: Abe set to win key upper house vote

From bbc.co.uk

Voters in Japan are casting ballots in upper house elections expected to deliver a win for PM Shinzo Abe. Half of the 242 seats in the chamber are being contested. Polls show Mr Abe's Liberal Democratic Party (LDP) and its allies could secure a majority, meaning a ruling party would control both houses of parliament for the first time in six years. The deadlock in parliament has been seen as a key factor in Japan's recent "revolving door" of prime ministers. Polling stations opened at 07:00 (22:00 GMT Saturday) and will close at 20:00 (11:00 GMT). Despite the importance of the election, early turnout was a little ... (full story)

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Jul 21, 2013 11:02am

From NBC: Japanese Prime Minister Shinzo Abe's ruling bloc won a decisive election victory on Sunday, cementing his grip on power but raising the possibility he could lose interest in difficult economic reform and shift focus to his nationalist agenda instead.

So YEN may not go up

Jul 21, 2013 5:32am

Quoting shogun12

Disliked

Everything is upside down in Forex. If we expect a weak yen then it will be strong.

Ignored

true....if the election is seen positive for the economy it could strengthen the Yen .....the other possibility is the election results were already baked in the price of the Yen ....so it corrects up

Jul 21, 2013 5:44am

abe alredy win the election

Jul 21, 2013 5:44am

gap up next!

Jul 21, 2013 4:42am

Mr yen would be continue weak.. Indicator & fact is showing lol

Jul 21, 2013 10:06pm

Yall need to read the News thoroughly some more and read thorough the perspective of the "Market sentiments" Based on what i read since Abe strong lead in politics the yen would be strong(fundamentally)..and well there is a pretty big candle on the UJ and i assume across other yen pair crosses as well to prove it(fundamental). Its currently 12-1am where i am located. If i were a noob i would of jumped in the UJ one time.. It could work out in my favor but its best to wait till a lil after 10 so that we can see the economic outlook of the USD to better make trades that are in our favor....(all this is the fundamental side of it)

(Now for the technical)
Not only that Japan news a bout politics were around an Resistance lvl and also at the Asian session... we are seeing a great opportunity for technical right now. but Dont trade technical or Fundamentals alone. Do both together and you would profit alot.!

Just a few words from me..Im not any super trader but it helps for all of us who know a little something about the market to share his or her knowledge as comments so we all can learn.......... I can be 100% wrong but it is a learning experience i am looking forward to.

Jul 21, 2013 4:05am

Let see a strong Yen

Jul 21, 2013 5:10am

Yen will probably weaken after election....

Jul 21, 2013 5:30am

http://www.kimt.com/2013/07/21/media-japan-ruling-bloc-wins-upper-house-election/

Jul 21, 2013 4:18pm

EURUSD falling means EURO strong and USD weak.
got it now!

check this again

Jul 21, 2013 4:55am

Why you say strong yen? It is obvious after Abe win yen will weaken

Jul 21, 2013 3:46pm

@Guest...
You might recheck your statement.

It seems that indeed traders are not familiar with currency and they trade. You might list yourself as Nr. 1 on that list?

Jul 21, 2013 4:05am

i would love strong yen

Jul 21, 2013 5:26am

Everything is upside down in Forex. If we expect a weak yen then it will be strong.

Jul 21, 2013 5:33am

what is mean by Weak Yen ? i.e EUR / JPY now 132.22

weak means tp be 130 for example ?

Jul 21, 2013 5:47am

Gab down

Trader#3E7B

Jul 21, 2013 7:48am

doesn't sound like official result is out yet, only exit polls.

TOKYO | Sun Jul 21, 2013 10:09am EDT

http://www.reuters.com/article/2013/07/21/us-japan-election-idUSBRE96J0BA20130721

but final results will surely be out before market opens tomorrow monday. groan ... I've got an open position (not yen pair or nikkei) that will probably be effected. setting alarm to wake me up before platform open at 03.00 am ... groan

Trader#DB9E

Jul 21, 2013 1:42pm

some traders are still not familiar with currency and they trade! weak Yen means USDJPY going up. first letter of the pair is going strong means 2nd letter of the pair going weaker.
So USDJPY oing higher meaning, USD strong JPY weak.

EURUSD falling means EURO strong and USD weak.
got it now!

More QE means currency will weaken, therefore USDJPY pair going higher

Trader#F3EB

Jul 21, 2013 4:30pm

Quoting Guest

Disliked

some traders are still not familiar with currency and they trade! weak Yen means USDJPY going up. first letter of the pair is going strong means 2nd letter of the pair going weaker.
So USDJPY oing higher meaning, USD strong JPY weak.

EURUSD falling means EURO strong and USD weak.
got it now!

More QE means currency will weaken, therefore USDJPY pair going higher

Ignored

Wrong Statement "EURUSD falling means EURO strong and USD weak.
got it now!"
Correct statement " EURUSD falling means Weak EURO and Strong USD

Jul 21, 2013 9:50pm

glenggie is wrong.....guest is correct...

Trader#E569

Jul 21, 2013 4:11am

If Abe wins, should be a weak Yen cause of QE

Trader#C22E

Jul 21, 2013 4:17am

You mean a weak yen...

Trader#7605

Jul 21, 2013 4:38am

Dont that mean weaker yen due to printing of more yen? ?

Story Stats

Jul 21, 2013 3:20am
Posted by
Newsstand

Medium Impact Breaking

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JN Upper House Elections