#USDJPY, H4 is approaching Pivot, potential for a bounce.
Description
Price is approaching our Pivot of 109.239 which is in line with 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.893 in line with 61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap. It is worth noting that price is above the ascending trendline, in line with our bullish analysis.
Pivot: 109.239
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 108.934
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 109.893
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 109.239 which is in line with 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.893 in line with 61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap. It is worth noting that price is above the ascending trendline, in line with our bullish analysis.
Pivot: 109.239
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 108.934
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 109.893
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
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.