• Japan’s economy starting to pick up moderately.
  • Expected to resume moderate recovery but uncertainty is high.
  • External demand may not pick up before reconstruction demand peaks if Europe debt woes deepen.
  • BOJ will continue powerful easing by steadily progressing toward 70 trln Yen asset buying and loan target.
  • U.S. economy improving as a trend but recovery expected to remain moderate.
  • Overseas economies showing signs of moderate recovery , but yet to emerge from slowdown.
  • Uncertainty over Europe debt woes, outlook of global economy is biggest risk to Japan economy.

RTRS

Usual copy of Azumi’s comments but Usd/Yen has picked up from the lows around 40 to 78.50. Did you realize that was a 10 pip statement . Anyway hearing stops forming above the 78.55/70/85/and 79.00 , with offers here at the 78.50 level.