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    USD/JPY: The pair will resume upward movement after prolonged correcti on 17.02.2015

    USD/JPY grew due to weak data on Japanese key indexes in the first middle of the past week. Consumer confidence index fell below forecasts and reached a level of 39.1 points. American data on the labour market was positive, on the contrary. These factors pushed USD/JPY upwards, but then the pair moved downwards once the key resistance level and last December's maximum at 120.50 was reached. The sharp descending movement was linked to negative data on US retail sales and upbeat statistics on machinery orders in Japan.  

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