• USD/JPY eased on Monday as investors geared up for the U.S. to elect its next president and the Federal Reserve's interest rate announcement this week.
• Kamala Harris and Trump are locked in a tight race for the White House ahead of Election Day on Tuesday.
• The latest polls indicate very tight races, which could indicate results may be contested and winners might not be known for some time.
• Fed risk also looms. A 25bps cuts is expected by investors so Fed Chair Jerome Powell's presser will be key. A dovish tone could send the dollar much lower.
• Immediate resistance is located at 152.66(5SMA), any close above will push the pair towards 153.78(23.6%fib).
• Support is seen at 151.48 (38.2%fib) and break below could take the pair towards 149.54(50%fib)
Recommendation: Be on side-lines
