USDJPY, H4 has broken beneath our Pivot, potential for a drop
Description
Price has broken under our Pivot of 109.035 which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 108.403, in line with 161.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support. Do note that price is trending under the moving average, in line with our bearish view.
Pivot: 109.035
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 108.403
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 109.303
Why we like it:
61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price has broken under our Pivot of 109.035 which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 108.403, in line with 161.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support. Do note that price is trending under the moving average, in line with our bearish view.
Pivot: 109.035
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 108.403
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 109.303
Why we like it:
61.8% 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.