26.07.2016 - The fall of USD/JPY is likely to continue in the near future

Price of USD/JPY showed a strong decline after has broken the lower border of the local rising channel and could not overcome the important resistance level at 106.40. As a result, prices began to decline sharply and broke through the support level at 105.00. In this regard, we expect continuation of negative price dynamics with closest targets at 103.50, after which the negative dynamics may continue until 101,40 and 100,00. Our medium-term outlook remains positive, but we expect a further fall in the near future.

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