#USDJPY reacting below pviot, potential for a drop!
Price is reacting below pivot level at 111.705, in-line with 161.8% Fibonacci retracement, 127.2% Fibonacci extension and and swing high resistance. Price could potentially drop to support at 111.090, in-line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA. Stochastic is also at resistance level where previous drops occurred.
Alternatively, price may swing towards our resistance at 112.100, in-line with -61.8% Fibonacci retracement and 127.2% Fibonacci extension
Pivot:
111.705
Why we like it:
161.8% Fibonacci retracement, 127.2% Fibonacci extension and swing high resistance
1st Support:
111.090
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
112.100
-61.8% Fibonacci retracement and 127.2% Fibonacci extension
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards our resistance at 112.100, in-line with -61.8% Fibonacci retracement and 127.2% Fibonacci extension
Pivot:
111.705
Why we like it:
161.8% Fibonacci retracement, 127.2% Fibonacci extension and swing high resistance
1st Support:
111.090
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
112.100
-61.8% Fibonacci retracement and 127.2% 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.