09.12.2014 - The yen corrected after prolonged growth

The price of USD/JPY fell today in connection with a finance minister statement regarding the, fact that there is reason to talk about a recession in the economy. Yesterday was published data showing that Japan's GDP in the 3rd quarter decreased by 0.5%, which is 0.1% less than the previous forecast. Currently quotations of pair reached the lower boundary of the rising channel, but could not overcome it. In the near future we may see the price rebound from the lower boundary of the channel and recommend holding positions with a stop below 118.00. Our medium-term outlook also remains negative.

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