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23.04.2014 - ​Traders are waiting for a signal on the yen

The price of USD/JPY continues to consolidate below the strong level of 102.70. To continue the upward movement new incentives are needed and it may be the release of data on consumer price inflation on Friday. Index is expected to rise by 0.1% to 1.4%, with a target level of 2.0% of the Bank of Japan. In the near future might be a slight correction to the level of 102.35. We expect continued growth and recommend to open long positions after the price fixing above 102.70. In such case, the price may reach 104.00 and 104.70. We maintain our medium-and long-term positive outlook for the pair.

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RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.
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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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