16.03.2015 - Volatility of USD/JPY may rise tomorrow after the statement of the Bank of Japan on monetary policy

The price of USD/JPY continues to consolidate within the corridor 121,00-122,00. Quotes are moving along the upper boundary of the rising channel. To continue the growth, the price must be fixed above the level of 122.00. In this case, quotes will rise to 124.00 and 125.00. In case of decline, a signal to sell will be overcoming the level of 119.50. Increase in volatility is expected tomorrow after the statement of the Bank of Japan on monetary policy. We recommend holding long positions and maintain a medium-term positive outlook for the pair.

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