28.11.20144 - USD/JPY will continue to grow within the channel

The price of USD/JPY after a long consolidation tried to break through and fix below the lower boundary of descending channel and the level of support at 117.40. At the moment, the price rebounded upwards from these levels and continues a gradual increase within the channel. We expect a continuation of the current dynamics in the short term and save medium term positive outlook with a target at 120.00, for reaching of which the price will need to break through the local maximum at 118.70. Stop should be set below 115.00.

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