USDJPY, H4 is testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot of 106.846, which is in line with -27% fibonacci retracement and 61.8% fibonacci extension, where we could see a potential bullish breakout from this level to our 1st Resistance level of 107.362, a fibonacci confluence level. Do note that price is trending above the ascending trendline, in line with our bullish view.
Pivot: 106.846
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
1st Support: 106.343
Why we like it:
61.8% fibonacci retracement, 61.8%, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 107.362
Why we like it:
-61.8% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 106.846, which is in line with -27% fibonacci retracement and 61.8% fibonacci extension, where we could see a potential bullish breakout from this level to our 1st Resistance level of 107.362, a fibonacci confluence level. Do note that price is trending above the ascending trendline, in line with our bullish view.
Pivot: 106.846
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
1st Support: 106.343
Why we like it:
61.8% fibonacci retracement, 61.8%, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 107.362
Why we like it:
-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.