13.01.2016 - We forecast the growth of USD/JPY
The price of USD/JPY after a strong decline over the past couple of weeks, stopped falling after reaching a level of 117.00. Recently quotations left the local descending channel and have overcome the level of 118.00, which is the basis for the continuation of the upward price movement to the levels of 119.00, 120.20 and 121.50. When opening long positions, the stop should be set lower than 117.00. Our medium-term outlook is positive and we recommend to open long positions.