31.12.2015 - We forecast the growth of USD/JPY

The price of USD/JPY after the strong decline in recent weeks, stopped the negative trend and now is consolidated within the local triangle. Price fluctuations reduce gradually and after the current consolidation, we expect a strong price movement. The signal to buy will be overcoming the resistance level at 120.60 and consolidation above it. In this case, the stop should be set below the level of 120.20. Target levels are 121.50, 122.30 and 123.60. The fall is unlikely. We keep medium-term positive outlook and expect a buy signal.

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