29.01.2016 - We expect growth of USD/JPY in the near future
The price of USD/JPY showed strong growth after a long consolidation below the strong resistance level at 118.80. As a result, quotations reached the upper boundary of the local rising channel and have overcome the closest resistance level at 120.20. The next upside target level will be 121.50 and 122.30. In case of correction, the price can decline to 120,00-120,20. Our medium-term outlook remains positive and we recommend holding long positions.