Pulling-back in up-trend | 18 November 2013
18 November 2013, USD/JPY
The USD/JPY pair has pulled back from its highs and fallen down towards the trend-line at 99.90, and it will probably find support there and then rotate higher again and resume it's short-term up-trend, eventually targeting 100.70 the next count higher. The mid-term trend remains up and the triangle in the short/medium-term has completed, the current rally higher is, therefore, in line with broader trend and so has a better chance of continuing. In fact 101.80, the count from the most recent pull-back, provides an even higher target for the pair.
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.
