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Pulling back from resistance highs

Pulling back from resistance highs | 10 December 2013

10 December 2013, USD/JPY

USD/JPY has reached resistance at the 103.35 highs and is pulling back. There is a possibility that it could move lower, down to support at 102.85, however, the dominant up-trend is expected to resume afterwards. There has been no count established yet since the 5th December lows but the pair will probably no go on to reach the 103.75 high, if it breaks higher, or possibly even resistance situated not far above at 104.15.
Pulling back from resistance highs
Mark Satcher
Analyst of «FreshForex» company
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