Deutsche Bank experts are sure that the Japanese Yen will keep strengthening while USDJPY and EURJPY will make new lows. A stronger Yen makes Japanese corporations purchase foreign companies in order to expand their presence around the world.
The experts say that the currencies of the so–called ACEAH countries (including Philippines and India) will benefit from the expansion of Japanese companies.
In the meantime, the Department of Masterforex-V Trading System reports that USDJPY is following the bearish scenario given in the outlook for Jan 26th 2012, thus forming wave А(С) or shortened C of Daily. The closest levels of resistance are 76.54, 76.49 and 76.29. The downtrend will be over as soon as the price breaks above MF pivot 77.16 and the MF sloping channel (as shown below):
