#USDJPY, H4 is approaching our Pivot, potential for a bounce.
Description
Price is approaching pivot level of 110.559, which is in line with 61.8% Fibonacci retracement level, 100% Fibonacci extension level and horizontal overlap resistance. We can expect further upside towards 1st resistance at price 109.964. This level coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level. This is further supported by how price is now holding above the ascending trendline.
Pivot:
110.559
Why we like it:
61.8% Fibonacci retracement level, 100% Fibonacci extension levelhorizontal overlap resistance
1st Support:
111.170
88% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
109.964
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 110.559, which is in line with 61.8% Fibonacci retracement level, 100% Fibonacci extension level and horizontal overlap resistance. We can expect further upside towards 1st resistance at price 109.964. This level coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level. This is further supported by how price is now holding above the ascending trendline.
Pivot:
110.559
Why we like it:
61.8% Fibonacci retracement level, 100% Fibonacci extension levelhorizontal overlap resistance
1st Support:
111.170
88% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
109.964
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level
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.