Forex Trading: USDJPY has moved above the 50% retracement level
Posted by Greg Michalowski on Fri, 08/08/2008 - 8:55am in
The USDJPY has lagged the rest of the market but has just moved above the 50% Retracement of the longer term move from the July 2007 high. The level comes in at 109.93.
The market will be watching the key level today . A move higher would target higher levels for the pair as the global slowdown takes precedence over the US problems.
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