分析：日元下跌势头可能没什么障碍

Core Viewpoint - The USD/JPY exchange rate has risen above 156 yen per dollar as Japan's elections approach, recovering from previous lows, with the yen being the worst-performing currency in the G10 this year. The downward trend may continue after the election risk event passes [1][3]. Group 1 - The weakening of the yen is partly due to ambiguous comments from Prime Minister Fumio Kishida regarding the benefits of a weak currency [1][3]. - Concerns have arisen among investors regarding the potential dovish stance of Kevin Warsh, nominated as the next Federal Reserve Chairman [1][3]. Group 2 - Market expectations suggest that Kishida's ruling Liberal Democratic Party will secure a significant majority in the elections, likely leading to more aggressive fiscal policies that could increase inflation and further pressure the yen [5]. - In the options market, the volume of USD/JPY call options with a nominal amount of $100 million or more exceeded that of put options, indicating increased demand for dollar bullish options [5]. - With the Bank of Japan not in a hurry to accelerate interest rate hikes, the most likely direction for USD/JPY is towards 160 yen [5].