11th Apr - USD/JPY Reaches 50% Retracement Level
11 April 2013
WEEKLY CHART:
The upmove has now reached the 99.86 50% retracement area, sometimes effective resistance/ support in JPY-related markets.
DAILY CHART:
Bulls have again been spurred on, and our next Fibo projection at 99.45 has now been tested, near to the 50% level on the Weekly chart. S/term we await reaction around here.
At this stage a drop back below the 92.54 02-Apr low would sideline the bulls.
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