USD/JPY: Bounces-back above 103.00, Trump becomes US president

The USD/JPY pair found fresh bids near 102.50 region, and took on the recovery back above 103 handle, with markets showing limited reaction to the headlines reporting Trump won the US presidency by 270 votes.

The recovery in USD/JPY is not surprising as a Trump win was already factored-in, which sent the rate to fresh monthly lows ahead of 101 handle.

In the day ahead, markets will continue to digest the latest US elections alongside some intervention rumors from Japan.

USD/JPY Technical levels to watch 

Higher side: 105.79 (daily S2), 106.50 (psychological levels)

Lower side: 101.54/19 (Oct lows), 101 (zero figure)