29.12.2015 - We forecast the growth of USD/JPY
The price of USD/JPY continues to fall within the local descending trend and at the moment is consolidating between 120,20-120,50. In case of overcoming the level of 120.20, we expect a further price reduction to 118,50-119,00. On the other hand breaking through the upper boundary of the channel and consolidation above 120.50 will be the basis for buying with the stop below 120.20 and objectives at 121.50, 122.30 and 123.60. Our medium-term outlook remains positive, and we are waiting for confirmation of a buy signal.