02.02.2016 - We expect further growth of USD/JPY

The price of USD/JPY corrected down to the support level at 120.20, which quotations have broken through earlier. Further fall is limited by the lower boundary of the ascending channel. In case of continued upward trend, the nearest target levels are 121.50, 122.30 and 123.60. We expect growth of price in the medium term and recommend holding long positions with the stop below 119.00.

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