USD/JPY chart - Trading View
USD/JPY was trading largely unchanged on the day at 102.75 at around 04:30 GMT.
The major dropped to lowest since March 2020 ahead of Georgia election results.
Exit polls in Georgia reveal record-level turnout for the two crucial runoff elections that could shift the balance of power in the US Senate from a Republican to a Democratic majority.
Dollar could take a beating if Democrats gain control of the Senate which would pave the way for an additional fiscal stimulus of $600 billion on top of the recently enacted $900 billion.
Technical studies support downside. The pair is testing major trendline support at 102.60. Break below to see further weakness.
Supports below 102.60 align at 102, 101.70 (trendline), 101.18 (March 2020 low). Resistances are seen at 103 (5-DMA), 103.24 (Tenken Sen), 103.47 (21-EMA).
