#USDJPY approaching pviot, potential for a drop!
Price is approaching our pivot level at 109.720, in-line with 61.8% Fibonacci retracement level and 50MA. Price could potentially drop to support at 109.095, in-line with 78.6% Fibonacci retracement level, 78.6% Fibonacci extension and swing low support
Alternatively, price may swing towards our resistance at 110.080, in-line with 100% Fibonacci retracement level and swing high resistance.
Pivot:
109.720
Why we like it:
61.8% Fibonacci retracement level and 50MA
1st Support:
109.095
78.6% Fibonacci retracement level, 78.6% Fibonacci extension and swing low support
1st Resistance:
110.080
100% Fibonacci retracement level and swing high resistance
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards our resistance at 110.080, in-line with 100% Fibonacci retracement level and swing high resistance.
Pivot:
109.720
Why we like it:
61.8% Fibonacci retracement level and 50MA
1st Support:
109.095
78.6% Fibonacci retracement level, 78.6% Fibonacci extension and swing low support
1st Resistance:
110.080
100% Fibonacci retracement level and swing high resistance
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.