Trend turns negative | 08 November 2013
08 November 2013, USD/JPY
The USD/JPY has fallen strongly and broken down below the 45° trend-line, marking a change in the short-term trend. A pole reversal pattern at the highs further augments the bearishness of the break. There is also a bearish count which has now been activated down to 96.25, and prices will probably eventually fall to it. Much support lies below the exchange rate's current level, at 98.00 and 97.70, which might prove difficult to breach, and there is a strong possibility of sideways market move unfolding before the next leg down unfolds.
.bmp "Trend turns negative")
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