28.04.2014 - USD/JPY rebounded from the support

The price of USD/JPY has corrected within the local rising channel to the strong support at 102.00 and reached the bottom of the channel. We recommend opening long positions on the USD/JPY with a stop below 102.00 and the target at 102.70, after overcoming which, the price may continue to move upwards to 104.00 and 104.70. Considering loose monetary policy of the Bank of Japan, we expect continued growth of the pair in the medium and long term.

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