Correcting; up-trend still dominant | 11 December 2013
11 December 2013, USD/JPY
USD/JPY had resumed its up-trend and reached the 103.35 highs but after that it pulled-back to below the 45° trend-line. Nevertheless it has failed to break below the trend-line and therefore the up-trend remains intact. There is the possibility of a deeper fall to 102.25 where there is support from a trend-line drawn from the October lows, however, the up-trend remains dominant and should resume and move higher, eventually, rising back up to the 103.75 highs and beyond.
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.
