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USD/JPY Too Heavy To Be Stopped

Price drops like a rock after the failure to stabilize above the warning line (wl1). The next downside target is at the 108.12 horizontal obstacle, but most likely will take this out as the Nikkei is under immense selling pressure. Should approach and reach the 61.8% retracement level and the long term 38.2% retracement level.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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