Index: src/wp-includes/js/tinymce/plugins/wpview/plugin.js
===================================================================
--- src/wp-includes/js/tinymce/plugins/wpview/plugin.js	(revision 29008)
+++ src/wp-includes/js/tinymce/plugins/wpview/plugin.js	(working copy)
@@ -465,12 +465,35 @@
 			return;
 		}
 
-		if ( keyCode === VK.LEFT || keyCode === VK.UP ) {
+		if ( keyCode === VK.LEFT ) {
 			setViewCursor( true, view );
 			deselect();
-		} else if ( keyCode === VK.RIGHT || keyCode === VK.DOWN ) {
+		} else if ( keyCode === VK.UP ) {
+			if ( view.previousSibling ) {
+				if ( getView( view.previousSibling ) ) {
+					setViewCursor( true, view.previousSibling );
+				} else {
+					selection.select( view.previousSibling, true );
+					selection.collapse();
+				}
+			} else {
+				handleEnter( view, true );
+			}
+			deselect();
+		} else if ( keyCode === VK.RIGHT ) {
 			setViewCursor( false, view );
 			deselect();
+		} else if ( keyCode === VK.DOWN ) {
+			if ( view.nextSibling ) {
+				if ( getView( view.nextSibling ) ) {
+					setViewCursor( false, view.nextSibling );
+				} else {
+					selection.setCursorLocation( view.nextSibling, 0 );
+				}
+			} else {
+				handleEnter( view );
+			}
+			deselect();
 		} else if ( keyCode === VK.ENTER ) {
 			handleEnter( view );
 		} else if ( keyCode === VK.DELETE || keyCode === VK.BACKSPACE ) {