Reuters published the results of the recent survey involving Japanese companies. The survey indicates better sentiment in August. In fact, this is the biggest optimism in 3 years. In particular, Japanese motor companies expect the Japanese economic growth to continue in the near future.
A weaker yen is one of the key reasons for the sentiment improvement. Still, Japanese manufacturers of computer electronics are less optimistic. They refer to economic slowdowns in emerging markets.
The data shown by Reuters reflect the Japanese government’s efforts to weaken the national currency and to support the economic growth. The government is concerned about a slower pace of economic growth. Still, they expect higher exports and retail sales to back the growth.
Forex
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of USDJPY. The Japanese Yen is strengthening against the US Dollar within the framework of a correction against a major trend. The closest levels of support are 95.61, 95.13, 94.69, 94.45.. The closest levels of resistance are 99.94, 99.33, 99.53, 99.93, 100.17.
