New bearish trend | 18 October 2013
18 October 2013, USD/JPY
The USD/JPY pair has fallen heavily and broken down below its 45° trend-line, shifting the short-term trend from up to down. The new down-target is quite far below at 95.65. The pair is currently consolidating but it is expected to go lower eventually in line with the short-term trend. A renewed move lower and break below 97.70 would probably signal the start of the next leg down towards 95.65.
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.
