USDJPY, H4 bounced from our Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 105.420, which is in line with 78.6% fibonacci extension, 38.2% fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 105.875 If price fails to hold above our pivot, we could potentially see a swing down towards our first support level of 105.122.
Pivot: 105.420
Why we like it:
78.6% fibonacci extension, 38.2% fibonacci retracement and horizontal graphical overlap
1st Support: 105.122.
Why we like it:
78.6% Fibonacci retracement and horizontal graphical support.
1st Resistance: 105.875
Why we like it:
161.8% fibonacci extension and -27% fibonacci retracement.
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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.