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    USD/JPY Is This A Valid Breakdown?

    MultiBank Exchange Group
    By MultiBank Exchange Group

    USD/JPY is trading in the red right now and looks determined to take out the dynamic support from the first warning line (wl1) of the ascending pitchfork. The breakdown will attract more sellers on the short term, which will lead the rate towards the 61.8% and lower towards the 38.2% retracement levels.

    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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