Pulling-back from resistance | 04 November 2013

04 November 2013, USD/JPY

The USD/JPY pair has reached major resistance from the bottom of the large triangle which has formed since May. It may pull-back from here to support at 98.45 but eventually the dominant up-trend is expected to resume and carry higher, breaking up above the line before reaching resistance at 99.40. The most recent count is to 99.85 and despite the layers above this remains the eventual objective for the pair on the short-term horizon.
Pulling-back from resistance
Mark Satcher
Analyst of «FreshForex» company
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