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Up-trend continuing

Up-trend continuing | 22 November 2013

22 November 2013, USD/JPY

The USD/JPY has risen up and broken above its 100.70 target. It reached new highs at 101.34 and then rotated lower. It is currently still pulling-back. It may fall back all the way to 100.70 before finding support and resuming the dominant short-term up-trend. The next target higher is the count to 101.80 from the 99.10 pull-back lows. The pair will probably continue higher as the up-trend extends. It is starting to look like it has broken out from the triangle consolidation and is moving higher.

Up-trend continuing

Mark Satcher
Analyst of «FreshForex» company
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