Forex Zone (Forex Zone)
Czech markets  |  October 23, 2012 10:05:05

Why did Europe learn from the mistakes of Japan?

Today we have seen the news that the Japanese government formally requested the Governor of Bank of Japan (BOJ), Shirakawa to support the economy (that is, made ??another wave of QE). Japan is about to happen in the course of history a shining example of how monetary policy easing does not work. The mystery, however, why, what does not work in Japan had begun three decades, Western governments do.

It's less than a month backWhen we informed you that the BOJ increased its asset purchase program by 10 trillion yen. This round of QE but had little success because the market its effect erased the next day. And now (desperate?) And the Japanese government wants the BOJ increase by another 20 trillion yen. How far do you think they will be able to increase the number of artificial?

As for trading on the monitored pair EUR / USD, so that slightly surprised yesterday. We expected low test before yesterday's Asian session. But a market downturn after the morning turned and started to test high on Friday Asian session, which we are also pointed out. This high surpassed only by a few pips.

Short-term market trends we see to the side. If the market closes below support around 1.3035, this opens the way for low test yesterday's Asian session and other targets below it, which we pointed out yesterday. Our next expectation is (since yesterday) that the price will be tested in the 1.3100. This remains our goal to move to the next level. On the way above the market but will have to overcome the resistance around 1.3085.

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