Forex news, JPYUSD. During the first quarter of current year all economic agents in Japan have shown higher interest in crediting, as concluded from the questionnaire among 50 banks, held by the Bank of Japan from 9/03/12 to 11/04/12.
Corporate sector credit demand index has increased to 6 points, following the value of 2 points during the previous quarter. Local government and farm enterprises have also shown higher interest in crediting, for their demand index has increased to 7 point, following the previous value of 0 points.
Credit managers expect the index to drop to 3 points during current quarter.
At the time of positive crediting news Credit Agricole analyst Simon Smollett supposes that JPYUSD currency pair has finished forming bearish correction and is ready to start bullish trend. In his opinion, its closest resistance lies within the level of 82.24 points.
JPYUSD currency pair has stopped its long-term rise against US dollar. According to the experts of Masterforex-V Trading System Department, the pair has finished forming bullish wave А/В of Н16 level, which is proved by АО index. Its closest support for further decline is provided by pivot MF 81.38, whose breaking will prove the end of bullish trend, and pivot MF 81.16. The pair’s further growth will face resistance at Fibonacci point 82.18.
