17.11.2014 - Yen's rise was limited and a drop in prices will continue in the near future
The price of USD/JPY fell sharply today after the publication of the data on reducing the country's GDP by 0.4% in Q3 2014. Despite this, the price ascending movement resumed after it rebounded from the bottom of the rising channel. According to our estimates in the near future quotes will reach the level of a local maximum near 117.00 and then will continue to rise within the channel with the target near 120.00. At the moment, there is no reason to talk about the change of the trend in this regard, we recommend holding long positions with a stop below 114.00.