17.02.2015 - The Japanese yen has started to decline before the statement of the Bank of Japan

The price of USD/JPY was unable to gain a foothold below 118.50 and resumed growth. At the moment, there is a high probability of further upward movement of the price with upside potential at 120.00 and 120.50. We recommend opening short-term long positions with a stop below 118.00. Tomorrow we expect a rise in volatility after the publication of statements of the Bank of Japan on monetary policy. Our medium-term outlook remains positive.

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