Pulling-back in up-trend | 05 November 2013
05 November 2013, USD/JPY
The USD/JPY pair has pulled-back from major resistance and has fallen to 98.20. It is possible it will fall even further to 98.00, but the monthly pivot there will probably kick-in providing support. After that, however, the dominant up-trend is expected to resume and carry higher revisiting the triangle's lower border-line at 98.80. Above that there is further resistance at 99.40 and the point & figure up-count is to 99.85, which is the eventual objective for the pair on the short-term horizon.
.bmp "Pulling-back in up-trend")
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.
