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Correcting; up-trend still dominant

Correcting; up-trend still dominant | 11 December 2013

11 December 2013, USD/JPY

USD/JPY had resumed its up-trend and reached the 103.35 highs but after that it pulled-back to below the 45° trend-line. Nevertheless it has failed to break below the trend-line and therefore the up-trend remains intact. There is the possibility of a deeper fall to 102.25 where there is support from a trend-line drawn from the October lows, however, the up-trend remains dominant and should resume and move higher, eventually, rising back up to the 103.75 highs and beyond.
Correcting; up-trend still dominant
Mark Satcher
Analyst of «FreshForex» company
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