13.10.2014 - USD/JPY fell to a strong level of support
The price of USD/JPY after consolidation below 108.00 started to decline and reached an important level of 107.00. Currently quotes are moving within the local downward channel and in case of breaking its upper limit will resume growth with the objectives of 108.50 and 110.00. If the price will fix below 107.00, we recommend to open short positions with the targets 105.40 and 104.00. Despite the current negative trend, we keep medium-term positive outlook and recommend to wait for the signal to open long positions.