Forex news, JPYUSD. As informed by information agency Nikkei, this week, on Thursday, Association of Southeast Asian Nations (ASEAN), consisting of 10 countries, among which China and Japan, is going to make a decision about rising currency swaps for the purpose of general agreement.
Let us remind that since this March there have been rumours about plans to raise the size of ASEAN general reserve fund twice, to 240 billion dollars; consequently, this decision is unlikely to be surprising to investors. However, this effort will certainly be not enough and will only become a small positive factor for US dollar and common European currency against such currencies as Australian dollar and Canadian dollar.
Let us admit that this increase to 240 billion dollars is only a small sum of money in relation to international reserves of China and Japan, which amount to 3.2 trillion and 1.2 trillion dollars accordingly.
The Analytics Team of has explained forex market situation in short-term perspective concerning JPYUSD:
Down wave С h4 81.42-79.71 formed – internal NK 80.73/18 broken + reaching fibo targets (162%). However, a proof is needed, namely breaking pivot 80.16.
Up wave А m15 is formed as a part of wave 4 h4, which may reach 80.47 (top point of А).
Correctional network from С h4, impulse network from А m15.
Ближайшие уровни волны 4 h4:
80.11 - 23 C h4 + 200 А m15
80.36 - 38 C h4 + 300 А m15
Current flat – 79.71/92
