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New bearish trend

New bearish trend | 18 October 2013

18 October 2013, USD/JPY

The USD/JPY pair has fallen heavily and broken down below its 45° trend-line, shifting the short-term trend from up to down. The new down-target is quite far below at 95.65. The pair is currently consolidating but it is expected to go lower eventually in line with the short-term trend. A renewed move lower and break below 97.70 would probably signal the start of the next leg down towards 95.65.
New bearish trend
Mark Satcher
Analyst of «FreshForex» company
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