NIKKEI headwinds USDJPY CC
The elections on Sunday, could very well be a buy the rumor sell the news type of event. The markets have priced in the postive outcome of a dramatic Monteray policy change to further easing. On a technical basis, the USDJPY is the driver of the market, correlation is 1.0 with the NIKKEI 225. so any selloff in the near term will obviously affect the NIKKEI 225. This is however a near term macro + technical correction. IMO the USDJPY will go alot higher, the base case for most Insitiutions are up to 100 in the USDJPY. Who's going to gain on that backdrop? Japanese exporting companies.
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