USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 109.038, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 109.643, in line with -27%, -61.8% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 109.038
Why we like it:
61.8% fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 108.617
Why we like it:
78.6% fibonacci retracement and 127% fibonacci extension.
1st Resistance: 109.643
Why we like it:
-27%, -61.8% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 109.038, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 109.643, in line with -27%, -61.8% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 109.038
Why we like it:
61.8% fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 108.617
Why we like it:
78.6% fibonacci retracement and 127% fibonacci extension.
1st Resistance: 109.643
Why we like it:
-27%, -61.8% fibonacci retracement and 100% fibonacci extension
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.