The Japanese PM is rumoured to be considering calling an early election and delaying a sales tax increase and this has only added more selling pressure to the Yen.
Bloomberg reports that Abe is considering an election date of December 14th or December 21. It is clear the sales tax increase in March has added to the woes of the government’s inflation plans and the BOJ's response to increase its bond buying program is evidence of this.
The Yen does appear to look oversold however with the economic fundamental volatility continuing in Japan there is no reason why the Yen's slide can't continue well into 2015 and the price of 120.00 for the USDJPY is attainable.
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