The Japanese Yen exchange rate will depend on the weakness of the common European currency. The Bank of Japan officials are concerned about situation but are not planning any currency interventions in the near future.
Japan’s Ministry of Finance is concerned about Standard & Poor's cutting the sovereign ratings of 9 eurozone countries. The officials are currently focused on the EURJPY exchange rate. According to them, Japan’s monetary policy will depend on how long the Euro currency will remain weak.
FOREX.
USDJPY has finished forming the upswing 76,54 - 78,22, the experts of the Department of Masterforex-V trading System report. The currency pair is forming wave C H2/H4. The closest level of resistance is 77,32. A change of trend can be considered only after the price breaks below the MF pivot and sloping channel (as shown below):
