Forex Trading: USD/JPY Trades Off December Lows

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Forex Trading: USD/JPY Trades Off December Lows

By Greg Michalowski on January 22, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

Looking at a USD/JPY daily retracement analysis from the November highs to the December lows, we see the Yen ripped down to just below the lows made in December above the 87 handle. The pair rebounded to the 23.6% retracement level and has since traded lower. We will watch the highlighted technical levels for some guidance as they seem to be firm.

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