29.07.2014 - Rising unemployment has led to the decline of the yen
The price of USD/JPY rose on weak data on unemployment in Japan, which rose unexpectedly to 3.7% vs. the forecast of 3.5% and retail sales, which has fallen by 0.6% versus the expected decline of 0.4%. From a technical standpoint, the price has fixed above the level of 101.70 and after consolidation continued the growth, which is a confirmation of a buy signal. We recommend holding long positions with the targets 102.20 and 102.70. Medium-term outlook remains positive.