• USD/JPY rose on Thursday as yen weakened as investors awaited Japan’s new PM Sanae Takaichi’s stimulus plan.
• Now Takaichi is installed as Prime Minister, the market is awaiting details of a stimulus package in order to trade the fact rather than the rumour.
• Takaichi is seen deploying a package of spending that exceeds former premier Shigeru Ishiba's 13.9-trillion-yen plan compiled last year.
•The package will include measures agreed upon by the two parties such as gasoline tax cuts, subsidies to curb utility bills and tax breaks for households.
• Immediate resistance is located at 153.10(23.6%fib), any close above will push the pair towards 154.15(Higher BB).
• Support is seen at 151.14 (50%fib) and break below could take the pair towards 150.53 (SMA 20)
