12.04.2016 - Price of USD/JPY may correct upwards

The price of USD/JPY was not able to continue to decline after reaching the support level at 108.00 and some consolidation around this level. As a result, the price broke the upper limit of the local downward channel and in the near future may continue to grow to 109.00. Overcoming this local maximum will confirm the signal to buy with the objectives at 111.00 and 112.15. In case of continued negative dynamics, the price may fall to 106.60 and 105.00. Our medium-term outlook remains positive, but we recommend to wait for a confirmation of the buy signal with a stop below 108.00.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.