FxWirePro: USD/JPY surges past 150 as yen slides on Takaichi win

 • USD/JPY rose past 150 level on Monday   as yen sank after fiscal dove Sanae Takaichi was elected to lead the ruling party and become the next prime minister.

•In Saturday’s run-off vote, Takaichi defeated farm minister Shinjiro Koizumi, who was viewed as more hands-off regarding monetary policy.

•Takaichi, a former economic security and internal affairs minister with a pro-expansion fiscal agenda for the world’s fourth-largest economy, is now set on a path to become the country’s first female prime minister following her victory

•The results of the weekend LDP leadership vote could lead to significant policy changes in Japan. 

• The data calendar is highlighted by trade and current account figures, household spending, and producer prices. Bank of Japan Governor Kazuo Ueda is scheduled to speak at the 2025 Paris Europlace Forum in Tokyo on Wednesday..
 
• Immediate resistance is located at 150.32(Daily high), any close above will push the pair towards 150.97 (23.6%fib).

•  Support is seen at 149.39 (38.2%fib) and break below could take the pair towards 149.00 (Psychological level)

Recommendation: Good to buy  around 150.00, with stop loss of 149.30 and target price of 151.00