Up-trend continues | 11 October 2013
11 October 2013, USD/JPY
The strong bullish rally continues to unfold and will probably go higher. The next count shows a target of 98.75 which we have almost already reached, the following of 98.50, which has now already been met, and these are slight warning signs the trend may be weakening. There is potential historical resistance at 98.70 and the pair may pause there to consolidate, however, in absence of any signs from price action itself that the pair has stopped rising, the forecast has to be of continued bullishness.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
