30.01.2015 - We are waiting for the strong price movement of USD/JPY
The price of USD/JPY continues to consolidate between the inclined support and resistance lines. The amplitude of the fluctuations in price is declining. In case of breaking through and fixing the price below 117.40, we recommend to open short positions with the first target at 116.00 with the potential of further decline to 114.00. The breaking of the oblique line of resistance, we expect further growth with the objectives of 120.00 and 120.75. Confirmation of a buy signal will be fixing above 118.85. Despite the possible drop of price in the near future, we keep positive medium-term outlook.