04.06.2014 - The price of USD/JPY reached the first target

Price USD/JPY continued to rise amid strengthening of U.S. dollar, which was provoked by strong data on factory orders which rose by 0.7% in April, up 0.1%, while the previous figure was revised from 0.9% to 1,5%. At the moment, the price has reached the upper limit of the upward channel and strong resistance level at 102.70. We expect downward price correction with the target at 102.40, after which growth is likely to continue with the objective at 104.00.

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