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Pulling-back in up-trend

Pulling-back in up-trend | 18 November 2013

18 November 2013, USD/JPY

The USD/JPY pair has pulled back from its highs and fallen down towards the trend-line at 99.90, and it will probably find support there and then rotate higher again and resume it's short-term up-trend, eventually targeting 100.70 the next count higher. The mid-term trend remains up and the triangle in the short/medium-term has completed, the current rally higher is, therefore, in line with broader trend and so has a better chance of continuing. In fact 101.80, the count from the most recent pull-back, provides an even higher target for the pair.
Pulling-back in up-trend
Mark Satcher
Analyst of «FreshForex» company
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