03.08.2015 - USD/JPY according to our estimates will continue to rise within the channel
The price of USD/JPY continues to correct to the lower boundary of the rising channel, after a failed attempt of breaking through the resistance level at 124.50. In case of fixing above this level, we expect continued growth in prices to 125.00 and 125.70. In case of breaking through the lower boundary of the channel, and fixing the prices below 123.00, we expect a drop in prices to 121.50 and 120.20. Given the medium-term uptrend and the absence of preconditions to change the current trend, we expect growth of quotations in the near future and in the medium term.