USDJPY, H4 is approaching our Pivot point, potential bounce.
Price is facing bearish pressure from pivot which is in line with 50% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down further towards1st support which is in line with horizontal swing low support and 38.2% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.
Pivot: 109.938
Why we like it:
Graphical swing high resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 108.469
Why we like it:
Graphical swing low support, 38.2% Fibonacci retracement
1st Resistance: 110.555
Why we like it:
Graphical swing high resistance, 78.6% Fibonacci retracement
Trading FX & CFDs carries high risk.
Pivot: 109.938
Why we like it:
Graphical swing high resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 108.469
Why we like it:
Graphical swing low support, 38.2% Fibonacci retracement
1st Resistance: 110.555
Why we like it:
Graphical swing high resistance, 78.6% Fibonacci retracement
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.