04.07.2014 - After the strong growth the price of USD/JPY corrected downwards
The Japanese yen strengthened today within the correction after yesterday's decline, which was caused by the strengthening of the dollar after the publication of the data on reduction of the U.S. unemployment rate to 6.1% in June from 6.3% in May. We expect that the price of USD/JPY after a minor correction to resume growth with the targets at 102.70 and 104.00. To do this, it will be necessary gain a foothold above 102.20. We maintain a positive medium-term outlook for the pair.