JPY remains a hot commodity on the forex market, and there's no visible end to this JPY upward trend. The Japanese currency owes it to the re-election of the Prime Minister Naoto Kan, the head of the Democratic Party. This news made JPY to soar up to 83.00 JPY/USD level  which is a 15-year low for USD. Now the pair stands at JPY 83.30 while USD is experiencing a downtrend started at JPY 95.00 in May. This week is flooded with US indices whereas the most important one, August CPI, is due on Friday. Naturally, the upcoming CPI might influence the direction of the USD/JPY pair.

GBP/JPY - 128.30

The GBP is also losing to the JPY standing at the four-month low of 128.30. These sad numbers are the result of Kan's re-election and caused by the disappointing performance of the UK economy. Analysts also fear that the recovery of UK economy can take much longer than it was anticipated at the beginning. Since early August GBP has lost about 10 Yen to JPY while getting closer to its own medium-term support at JPY 126.70. The UK Unemployment Rate is due tomorrow (Wednesday), and it might influence this pair as well.