18.03.2016 - We expect the rebound of USD/JPY
The price of USD/JPY showed a strong decline after could not overcome the level of 114.00. Within the reduction, quotes updated local minimum around 112.40 and reached a strong support level at 111.00. Fixing the price below this level of support will be the basis for further reducing of the price to 110.00 and 108.00. It is worth noting that at the moment there is a high probability of a rebound of price upwards and in case of opening long positions with the first targets at 114.70, 117.00 and 118.80, the stop should be set below 111,00. We expect the price growth in the near future and maintain a medium-term positive outlook for the USD/JPY.