USD/JPY Fails To Break Above Trend Line Resistance
Franco Shao | Aug 18, 2013 11:39PM ET
USD/JPY failed to break above the resistance of the downward trend line on the 4-hour chart, and pulled back from 98.64. Suggesting that the pair remains in downtrend from 101.53. Further decline would likely be seen, and the next target would be at 96.00 area. Key resistance is located at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.
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