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USD/JPY: review and forecast on 19.03.2015

USDJPY has been trading in a sideways channel of 121.00-122.00 for 3 last weeks. However, the information published after FED's meeting has influenced the currency market on the whole and allowed the pair to move beyond this channel. Having broken down the level of 121.00, the price continued to decline and reached its lowest at 119.31. Afterwards the pair corrected a bit and got back to the level of 119.66, from which a new ascending movement began. USD/JPY is currently trading at about 120.60 (middle line of Bollinger bands). 

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