USDJPY, H4 is approaching our Pivot point, potential for a drop
Description
Price is under our Pivot of 108.309 which is in line with 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 107.484, in line with -61.8% fibonacci retracement and 127% fibonacci extension. Do note that price is trending under the moving average, in line with our bearish view.
Pivot: 108.309
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 107.484
Why we like it:
-61.8% fibonacci retracement and 127% fibonacci extension
1st Resistance: 108.794
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is under our Pivot of 108.309 which is in line with 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 107.484, in line with -61.8% fibonacci retracement and 127% fibonacci extension. Do note that price is trending under the moving average, in line with our bearish view.
Pivot: 108.309
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 107.484
Why we like it:
-61.8% fibonacci retracement and 127% fibonacci extension
1st Resistance: 108.794
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
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.