25.02.2014 - The price of USD/JPY soon will leave the triangle

The price of USD/JPY continues to consolidate below the upper boundary of the triangle. If the price will fix above 102.70, we recommend opening long positions with the targets at 104.70 and 105.40. Reduction within the triangle is limited by the inclined support level around 102.00. Fixing of price below 102,50-102,60 will be a signal to sell. Increase in volatility is expected on Friday after the release of a large block of macroeconomic data on the Japanese economy.

USD/JPY Technical Analysis

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