02.07.2014 - The recovery of USD/JPY has stopped

The price of USD/JPY resumed its decline in the descending channel after it bounced off the lower boundary and reached resistance at 101.60. Statistics on reducing the annual growth rate of monetary base in Japan to 42.6% vs. expected 48.3% has led to a strengthening of the Japanese yen. Within the channel, the price may fall to 100.90. The signal of a trend reversal will be fixing the price above 102.20. We expect that price volatility will increase in the next two days in connection with the release of data on the U.S. labor market and maintain a positive outlook for the medium-term with target prices at 102.70 and 104.00.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.