26.09.2014 - The Japanese yen is likely to accelerate the growth soon
The price of USD/JPY continues to consolidate within a narrow channel 108,50-109,30. At the moment, it is traded near the level of 109.00, and for the continued growth it is needed to overcome the mark of 109.30. Nearest targets in case of further growth will be on the 110.00 and 111.00. The fall of is limited by the inclined support line. Today is possible the increased volatility due to the publication of data on GDP and consumer confidence index in the United States. We maintain a medium-term positive outlook for the USD/JPY and recommend holding long positions with a stop below 107.00.