11.07.2016 - We expect growth of USD/JPY to 106.40

Price of USD/JPY broke through the upper limit of the downward channel, and as a result may reach the level of 103.50 in the near future. Overcoming this level will confirm the change of trend to the positive and in this case we recommend opening long positions with objectives at 106.40 and 108.00 and the stop below 100.00. After a strong upward momentum, we are likely to see a small correction. Our medium-term outlook remains positive and downside potential is minimal.

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