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Bullish continuation

Bullish continuation | 15 October 2013

15 October 2013, USD/JPY

The USD/JPY has recovered and pushed higher, reaching the 98.70 resistance level. The short-term trend is very much still bullish and I can't see any signs of it stopping yet, although it would be good to see a break above the 98.70 level for added confirmation. A break above the 98.65 highs would give a double-top buy signal and it would generate a new upside target of 99.75. However, to be on the safe side it might be best to wait for a break above resistance at 98.70 for confirmation – so perhaps 98.75-80.
Bullish continuation
Mark Satcher
Analyst of «FreshForex» company
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