I am not a Sanskrit scholar but have interest in understanding the inner meaning of vedic mantras. So, it is an attempt to help myself and if it helps others then that is a bonus, my offering to the Lord. Sarvam Sri KrishNarpaNam.
I thought, before I start let me see if there are any translations already. And I found this really good site where I have taken the translation from (http://jigyaasaa.wordpress.com/). I have not looked into the accuracy of the translation but after going through the site I can say with complete confidence that this looks like an authentic translation.
vijyaṃ dhanuḥ kapardino viśalyo vāṇavām̐ uta | aneśann asya yā iṣava ābhur asya niṣaṅgadhiḥ ||