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USD/JPY WILL LIKELY CONTINUE TO DECLINE 16.08.2016 by FXFINPRO CAPITAL

Price of USD/JPY after a long consolidation above the level of 100.85, has shown a sharp decline and in the near future with a high probability will decrease to 100.00. A break of this level will be the basis for further price reduction to 98,60-99,00. On the other hand, in case of growth, and overcoming the upper limit of the downward channel a signal to buy with targets at 106.40 and 108.00 will be the price fixing above 102.60. Our medium-term outlook remains positive, but the current drop is likely to continue in the near future.