By: Eamonn Sheridan

USD/JPY creeping higher in the late NY day. News overnight that the LDP may well gain more than half the seats in the Dec. 16 election... so no need for a coalition government. That's big news - every other poll I've seen up to now shows no party even getting close to >30%. Hmmm. 82.55/60 resistance - then the selling is in place through 82.70 and 82.80, above here is recent highs with more selling in place - but stop loss buyers will kick in especially if EUR/JPY is performing strongly (sellers EUR/JPY at 107.90/00).   82.18/23 initial support 82.00/10 then buying down through 81.90 to 81.70/75 - below here are stops until 81.35/45 support again