According to the Japanese government, the situation in the national economy keeps improving.
In particular, in April the index of leading economic indicators gained 1,3 points, thereby reaching 99,3 points. The key components of the index, which are job offers and consumer sentiment, strengthened during the reporting period.
Forex
The current weakening of the Japanese Yen takes place within the scope of a recovery against the long-term downtrend in the market of USDJPY. According to Masterforex-V Academy, the currency pair is still forming a downswing in the form of wave A/B of Daily.
The closest levels of support are 94.97 and 93.68. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 101,80 (as shown below).
