USDJPY, H4 approaching Pivot point, potential for a drop.
Description
Price is approaching our Pivot of 108.910 which is in line with 78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap, where we could see a drop from this level to our 1st support level of 108.326 in line with 61.8% fibonacci retracement and horizontal graphical overlap.
Pivot: 108.910
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 108.326
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.265
Why we like it:
127% fibonacci retracement and horizontal swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 108.910 which is in line with 78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap, where we could see a drop from this level to our 1st support level of 108.326 in line with 61.8% fibonacci retracement and horizontal graphical overlap.
Pivot: 108.910
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 108.326
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.265
Why we like it:
127% fibonacci retracement 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.