Market Leader informed
The Japanese Ministry of Economy has planned to resume the growth of consumer prices.
The max term for implementing the plan is the end of 2011, Banri Kaieda says. According to him, the first step is to change the falling prices for positive dynamics. The Bank of Japan has supported the government’s decision, however the starting date is not specified.
What is going on with the JPY currency rate at Forex?
Experts from the Department of studying Masterofrex-V trading system, USDJPY is currently moving within the scope of wave c(C ) of level H8. It has already reached $83.77, which coincides with the match of impulse and correction Fibo-grids. That is where the bullish movement has paused. The next significant level of resistance may be $85.87, the location of the defensive bearish MF pivot and 38.2% of the correction grid. If the price goes up, the closest support will be provided by the MF sloping channel and MF pivot.
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