02.10.2014 - The Japanese yen has risen sharply
The price USD/JPY after reaching the target level of 110.00 started to correct and after breaking through the inclined support line has accelerated its decline. Due to the strong downward impulse and breaking through the level of 108.50, we recommend to close long positions and to wait for further signals for decision-making. We expect continued downward correction to the level of 107.00. Despite this, we maintain a positive outlook for the medium-term and recommend expect new signals for opening long positions.