09.02.2015 - The Japanese yen is likely to continue to fall
The price of USD/JPY after the strong growth started to correct and dropped to the level of 118.50. In case of consolidation of quotations above this mark, we recommend to open long positions with a short-term growth potential to the level of 120.00 and 120.75. The reason for the sharp growth of quotations on Friday became strong data on the US labor market, which increased the likelihood of interest rate hike by the Fed and has strengthened the US dollar. We recommend to wait for a confirmation of the signal for opening positions and maintain a medium-term positive outlook.