30.10.2014 - USD/JPY continued to rise inside the rising channel

The price of USD/JPY continued to rise after a long consolidation along the lower boundary of the local rising channel. It is worth noting that the price broke the important level of 108.50 and in the near future will likely continue to rise to the level of 110.00. The growth of volatility is expected today after the release of statistics on US GDP (12:30 GMT) and at night after the publication of data on unemployment, consumer price index and household expenditures in Japan. We should also pay special attention to the statement by the head of the Bank of Japan. We recommend holding long positions on the pair with the stop below 107.60 and maintain a medium-term positive outlook.

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