USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 108.126, which is in line with 38.2%, 61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 108.879, a fibonacci confluence level. Do note that price is trending above the moving average and Ichimoku cloud, in line with our bullish view.
Pivot: 108.126
Why we like it:
38.2%, 61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 107.607
Why we like it:
61.8% and 127% fibonacci retracement
1st Resistance: 108.879
Why we like it:
-27% fibonacci retracement and 88%, 88% fibonacci extension.
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 108.126, which is in line with 38.2%, 61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 108.879, a fibonacci confluence level. Do note that price is trending above the moving average and Ichimoku cloud, in line with our bullish view.
Pivot: 108.126
Why we like it:
38.2%, 61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 107.607
Why we like it:
61.8% and 127% fibonacci retracement
1st Resistance: 108.879
Why we like it:
-27% fibonacci retracement and 88%, 88% 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.