Recovering after pull-back | 04 December 2013

04 December 2013, USD/JPY

USD/JPY has probably resumed its up-trend after temporarily pulling back to 102.00. It has now risen back up to 102.80 and may now rise further to re-touch the 103.35 highs. A move above 103.40 could provide confirmation of a break higher, to perhaps the 103.72 highs or resistance at 104.15. A bullish count calculated from the November 26 lows also gives an upside target of 104.60.

Recovering after pull-back

Mark Satcher
Analyst of «FreshForex» company
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