12.10.2016 - We expect growth of USD/JPY to 105.00 and 106.40

The price of USD/JPY is consolidating around the level of 103.50 and came close to the lower boundary of the rising channel. According to our forecasts, growth will continue in the near future within the channel and after overcoming a local maximum at 104.00, we expect the price increase to 105.00, 106.40 and 108.00. On the other hand, we do not exclude the breaking of the lower boundary of the channel, and in case of continued negative dynamics, a signal to sell with the potential of reaching the levels of 101.40 and 100.00 will be fixing of price below the local minimum at 102.80. Our medium-term outlook remains positive.

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