#USDJPY reacting below pviot, potential for a drop!
Price is reacting below our pivot level at 110.805, in-line with 100% Fibonacci retracement, 127.2% Fibonacci extension and swing high resistance. Price could potentially drop to support at 110.165, in-line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA. Stochastic is also at resistance where previous drops occurred.
Alternatively, price may swing towards our resistance at 111.265, in-line with 127.2% Fibonacci retracement level and 161.8% Fibonacci extension.
Pivot:
110.805
Why we like it:
100% Fibonacci retracement, 127.2% Fibonacci extension and swing high resistance
1st Support:
110.165
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
111.265
127.2% Fibonacci retracement level and 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards our resistance at 111.265, in-line with 127.2% Fibonacci retracement level and 161.8% Fibonacci extension.
Pivot:
110.805
Why we like it:
100% Fibonacci retracement, 127.2% Fibonacci extension and swing high resistance
1st Support:
110.165
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
111.265
127.2% Fibonacci retracement level and 161.8% 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.