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USDJPY tests 61.8% retracement level

Written July 8, 2009 at 11:53 AM EST by Greg Michalowski 

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The USDJPY broke through the March low at the 93.54 level and plunged to a low of 92.72.   The 61.8% retracement support from the low in January of 87.11 comes in at the 92.58 level.  The bounce higher has taken the pair back above the first corrective high at 93.18.  Watch this level.

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Categories: Forex Trading  |  
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