USD/JPY New Lows Eyed

Price drops after the retest of the median line (ml) of the ascending pitchfork. The next downside target will be at the 38.2% retracement level, it could reach it if the US data will disappoint later. USD/JPY dropped below the 112.50 psychological level as the Nikkie is going down after the impressive rally. Only a USDX’s rally will send the rate much higher again.

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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