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Forex technical analysis: USDJPY retraces move 50% of the May move

Discussion in 'Technical Analysis' started by ForexLive, Jun 2, 2016.

  1. ForexLive

    ForexLive Forum Member

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    50% retracement at the 108.50 level The USDJPY has continued to move lower from the May 30th high and just about reached the 50% retracement of the move up from the May move higher. That move took the price from a low of 105.543 to a high of 111.444 (on May 30). The 50% midpoint of that corrective rally comes in at 108.494. The low today 108.52. Traders are leaning against the risk defining level.

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