USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 109.146 which is in line with 78.6% fibonacci retracement, moving average support and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.669 in line with -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 109.146
Why we like it:
78.6% fibonacci retracement, moving average support and horizontal graphical overlap
1st Support: 108.924
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing low.
1st Resistance: 109.669
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 109.146 which is in line with 78.6% fibonacci retracement, moving average support and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.669 in line with -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 109.146
Why we like it:
78.6% fibonacci retracement, moving average support and horizontal graphical overlap
1st Support: 108.924
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing low.
1st Resistance: 109.669
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
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.