30.04.2015 - We are waiting for a signal to buy on USD/JPY
The price of USD/JPY showed a slight decrease in spite of the weakening US dollar. Currently quotes continue to consolidate above the strong support at 118.50. It is worth noting that the price of the pair is consolidating within the triangle and the amplitude of price oscillations gradually decreases. Fixing the price above 120.00 will become a signal for the opening of long positions with the upside potential to 122.00 and 125.00. On the other hand, short positions with the targets at 117.40, 116.00 and 113.00 should be opened after fixing the price below 118.50. We maintain the medium-term outlook for USD/JPY, but are waiting for a signal to open new positions.