20.03.2015 - The Japanese yen continues to fall

The price of USD/JPY continues to rise inside the rising channel after failed to gain a foothold under the bottom of the channel and the level of 120.00. According to our estimates, quotes will continue to rise in the near future and will reach a local maximum at 122.00 in case of overcoming of which is expected to continue rising to 124.00 and 125.00. Volatility later in the week will decline. We recommend holding long positions with a stop below 119.50 and maintain the medium-term positive outlook.

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