Bullish continuation | 15 October 2013
15 October 2013, USD/JPY
The USD/JPY has recovered and pushed higher, reaching the 98.70 resistance level. The short-term trend is very much still bullish and I can't see any signs of it stopping yet, although it would be good to see a break above the 98.70 level for added confirmation. A break above the 98.65 highs would give a double-top buy signal and it would generate a new upside target of 99.75. However, to be on the safe side it might be best to wait for a break above resistance at 98.70 for confirmation – so perhaps 98.75-80.
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.
