Fiscal stimulus in Japan disappointed

In Japan Prime Minister's Shinzo Abe long expected fiscal stimulus was finally disclosed. The cabinet approved on Tuesday a package of spending and loans totaling 28 trillion yen (about 275 billion dollars). The government announced their plans days after the central bank adopted a modest increase of their incentives.
IMF determine the increased costs as slightly improving the prospects. The Fund welcomes the decision of BoJ expansion of the incentives.
The government may issue 40 year government bonds worth 100 trillion yen to finance the budget.
Dollar/yen fell because of fiscal incentives and dealers continued to close long dollar positions. Short-term resistance is at 101.50 and the major support is 100.