11.08.2015 - USD/JPY can update the local maximum

The price of USD/JPY is trying to overcome the psychologically important level of 125.00. In case of success and fixing of quotations above this mark, we expect a continuation of the upward price movement to the target levels at 128.00 and 130.00. On the other hand, at the moment there is a high probability of resumption of the downward movement of price to the levels of 123.00 and 121.50. We keep medium-term positive outlook for the USD/JPY, but we recommend to wait for the signal for opening long positions.

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