26.11.2015 - USD/JPY may continue decline to 121.50

The price of USD/JPY is trying to gain a foothold outside the ascending channel and in case of fixing the price below the local minimum at 122.50, may continue decline to 121.50 and 120.50. In order to continue growth, quotations need to overcome the resistance level at 123.50. In this case, we expect the increase in prices to the target levels at 124.50, 125.40 and 127.00. Our medium-term outlook remains positive and the current correction according to our estimates will be short.

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