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USD/JPY Valid Or False Breakdown?

MultiBank Exchange Group
By MultiBank Exchange Group

USD/JPY posted significant gains today and is challenging the confluence area formed between the 50% retracement level with the warning line (wl1). Price will resume the downside movement if will stay under the mentioned broken support levels, could also retest the minor uptrend line before will drop much deeper.

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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