06.05.2014 - Traders are fixing positions on the yen
The price of USD/JPY dropped to 101.90 on the background of new clashes in Ukraine that can lead to escalation of the conflict between Russia and the West, and leads to increased demand for defensive assets like the Japanese yen. At the moment the price is trying to gain a foothold above 102.00. We expect the resumption of growth with the target near 102.70. Growing tensions in Ukraine, which is expected in the period May 8-11, can lead to a decrease in quotations of the pair. Despite this, we keep medium-and long-term positive outlook for the pair.