18.02.2014 - USD/JPY went out of the downward channel
The statement of the Bank of Japan concerning doubling two programs aimed at stimulating of lending, has led to sharp increase in quotes of USD/JPY. The price has reached the resistance at a local maximum. In case of fixing above 102.60, we expect a continued growth with the target prices at 103.40 and 104.00. Decline is limited by a strong support level at 102.00.