USDJPY, H4 reversing from our Pivot point, potential for a drop.
Description
Price is reversing from our Pivot of 105.566, which is in line with, 38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 105.193, which is in line with 38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap. Its worth noting that price is trending within a squeezing triangle.
Pivot: 105.566
Why we like it:
38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 105.193
Why we like it:
23.6%, 61.8%, 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 106.102
Why we like it:
127%, 88% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot of 105.566, which is in line with, 38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 105.193, which is in line with 38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap. Its worth noting that price is trending within a squeezing triangle.
Pivot: 105.566
Why we like it:
38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 105.193
Why we like it:
23.6%, 61.8%, 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 106.102
Why we like it:
127%, 88% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.