#USDJPY reacting above trendline, potential for bounce
Price is reacting above our pivot level at 109.585 which is in line with 100% Fibonacci retracement level, 100% Fibonacci extension level and ascending trendline support. Price could potentially swing towards resistance at 110.240, which is in line with 78.6% Fibonacci retracement level and 61.8% Fibonacci extension level.
Alternatively, price may drop to our support at 109.320, which coincides with 127.2% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
109.585
Why we like it:
100% Fibonacci retracement level, 100% Fibonacci extension level and asecending trendline support
1st Support:
109.320
127.2% Fibonacci retracement level and 161.8% Fibonacci extension level
1st Resistance:
110.240
78.6% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 109.320, which coincides with 127.2% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
109.585
Why we like it:
100% Fibonacci retracement level, 100% Fibonacci extension level and asecending trendline support
1st Support:
109.320
127.2% Fibonacci retracement level and 161.8% Fibonacci extension level
1st Resistance:
110.240
78.6% Fibonacci retracement level and 61.8% Fibonacci extension level
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.