The Japanese Yen strengthened firmly during today’s Asian session, sending the benchmark USD/JPY currency pair down to a fresh 2-month low near ¥148.

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1. In the Forex market, the Japanese Yen has been the weakest major currency since today’s Tokyo open, after rebounding from a strong rise to a new multi-month low price, while the Euro has been the strongest major currency, which is putting the USD/JPY currency pair and the EUR/JPY currency cross in focus.
2. German voters yesterday gave a strong first place finish to the centre-right CDU party, putting the further-right AfD in second place for the first time ever, while handing the left-wing SPD a stinging defeat. A coalition led by the CDU with the SPD as a junior partner looks to be the most likely outcome, with the two parties holding a majority of seats between them, as the CDU has pledged to never work with the AfD. The German DAX equity index, which has seen strong gains to record highs over the past year, is rising right now in the futures market due to the election result. The election has also boosted the Euro, with the EUR/USD currency pair trading as as high as $1.0530 a few hours ago.
3. Gold is showing bullish momentum again after rising again to trade at a new all-time high price just above $2,950 per ounce last week. Trend and momentum traders will be interested in being long here.
4. Corn futures remain bullish, and trend traders will want to remain long here for the time being. Corn futures can be expensive but there is a Corn ETF (CORN) which can be used by retail traders and investors.
5. It is likely to be a quiet Monday, as there are no high-impact data releases scheduled today.
6. It is a public holiday in Japan today.

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