The Japanese government came close to the implementation of the 3rd and final stage of its plan aimed at boosing the economic growth in Japan. The steps will be revealed and specified at the end of June. Still, at this point we know that they will be aimed at supporting Japanese businesses.
The Prime Minister Abe is content with the results of the job done in 6 months of his staying in office. He said that brave monetary policy coupled with flexible fiscal course with in the scope of the strategy allowed the Japanese government to get rid of deflation and to let the Japanese economy come out recession right to a whole new stage.
At this point, the key issue on the agenda is the implementation of the 3rd and final stage, which includes tax recession for Japanese corporations. The details of the plan aimed at easing the tax burden in Japan will be revealed in late June. Still, Mr. Abe already announced a sharp cut in the corporate tax rate, which currently sits at 35.64%.
USDJPY
Masterforex-V Academy reports that the Japanese Yen is still gaining value as USDJPY is going down within the scope of wave А/В of level Daily. The currency pair is currently developing sub-wave a(C )/C. The downswing may be limited by the MF pivot located at 101,42 and other level of support: 101,32/28, 101,15, 101,04. The current wave will end if the price breaks the MF pivot located at 102,16 as well as the MF sloping channel (as shown below).
Текст: Эдуард Кульченко, эксперт факультета торговой системы Masterforex-V
