Forex Flash: JPY weakening too far, too fast – Saxo

FXstreet.com (Barcelona) - Recent two day sky rocketing up move in USDJPY, according to John Hardy, Head of FX Strategy at Saxo, is "may be going too far, too fast," the analyst says.

"The pounding of the JPY continues on Japanese political developments as the assumption is that the opposition LDP's Abe, if he wins next month's elections, will be far more aggressive in moving to ease policy and force the JPY weaker, even trampling on the BoJ's principle of independence to get his way," John explains.