01.09.2015 - Price of USD/JPY may continue to fall to 118.50

The price of USD/JPY failed to overcome and to gain a foothold above the level of 121.50, and after some consolidation has started to decline, and broke through the lower boundary of the rising channel and local support level at 120.50. Fixing of quotes below these levels will be the basis for further price fall to 118.40 and 117.00. To continue the growth with targets 123.00 and 124.50, quotations need to overcome the level of 121.50. We expect the price decline in the near future, but maintain a medium-term positive outlook.

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