BOSSA.CZ (BOSSA.CZ)
Macroeconomics  |  February 14, 2013 08:15:00

Japan in recession, USD / JPY at an important point


iPoint.cz The Japanese economy was in contraction for the third quarter in a row. Land of the rising sun and can not get out of the economic recession. Japan's GDP in the 4th quarter of 2012 slowed to 0.1 percent, economists at the expected 0.1 percent growth. In annual measurement of GDP fell by 0.4 percent, while economists expected a 0.5 percent growth.

The result certainly did not please Japanese Prime Minister Shinzo Abe, who is trying to use the reform steps start an economy that is oppressed by deflation after two decades. Abe and his government planned to huge cash incentives and aggressive monetary policy.Finance Minister Akira Amari, despite the bad result positive frame of mind and believes that the new policy will take Shinzo Abe. Politicians should next week in Parliament to approve the stimulus package worth $ 117 billion.

The Bank of Japan (BoJ) kept its policy Night unchanged and only comment on the current state of the economy. BoJ not mind weakening yen and expected improvement in the economy. Japan maintained an extremely low interest rates from 0.1 percent to 0 percent. Inflation target of 2 percent and remains a program of buying new assets in 2014 remained unchanged.

Currency pair USD / JPY today seduces his struggle with rising trend line resistance and possibly 93.93 (38.2 Fibonacci level). In recent days, it is seen more modest growth compared to previous weeks.Any breaking trend lines could help correct the bull trend. Looking forward, however, this remains a growing trend.

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Japonsko v recesi, USD/JPY na důležitém místě

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