The price of USD/JPY stabilized near the level of 124.00, and continues to consolidate. For the continuation of growth of quotations need to overcome the level of 125.00. In this case, the price will continue to rise with the objectives at 128.00 and 130.00. On the other hand, breaking through the lower boundary of the channel and fixing quotations below the local minimum near 123,00 will be the basis for opening short positions with the targets at 121.50 and 120.20. We keep medium-term positive outlook for quotations and recommend holding long positions with the stop below 123.00.