Tests 61.8% retracement level
The USDJPY continued the sharp fall today and pushed below the lows from February at 110.96 and 111.03. The break to new year and 16+ month lows triggered selling down to the 110.66 level. The 61.8% retracement of the move up from the July 2014 low was not far away at 110.531.
Forex technical analysis: USDJPY snaps back after failing below new 16+ month low
