15.04.2015 - The Japanese yen may resume the fall
The price of USD/JPY continues to move through the local rising channel and currently is consolidating near the lower boundary of the channel and the important level of 119.50. At the moment there is a high probability upward rebound of quotes to the resistance at 121.00 and the upper limit of the channel. On the other hand, moving beyond the boundaries of the channel, and fixing below 119.50, will be the basis for the continuation of the downward movement of the price to 118.50 and 117.00. Our medium-term outlook remains positive and we recommend holding long positions with the targets at 121.00 and 122.00.