After reaching the target price 105.40 USD/JPY started to adjust upwards and now is consolidating near the level of 106.50. The price broke through the upper limit of the local downward channel in case of further growth will reach 107.00. Fixing the price above 107.00 will be a signal for the re-opening of long positions. In the near future, the price may continue to fall to the levels of 105.40, 104.70 and 104.00, but in the medium term the growth of quotations according to our forecasts will continue. We maintain our negative view on the USD/JPY.