USD/JPY Struggling to Restore 104.75

Financial markets kicked off the week with optimism about the US election after all US new platforms announced that Joe Biden had won the election, even though Do Trump would not give up without a court confrontation.

However, what gave a strong boost to the markets was the reports that Pfizer had succeeded in reaching a Coronavirus vaccine that provided more than 90% effectiveness while no serious safety concerns have been observed.

The US dollar was traded against the Japanese Yen at a low of 103.18 at the beginning of the day, and it stands near 104.50 at the time of writing. More intraday gains are likely to happen if it rises beyond the 104.70 price zone looking to advance beyond 105.00.