#USDJPY, H4 is testing Pivot point, potential for a drop.
Description
Price is testing our Pivot of 109.472 which is in line with 88.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 109.094 in line with 127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It is worth noting that price is under the moving average,in line with our bearish analysis.
Pivot: 109.472
Why we like it:
88.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 109.094
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 109.749
Why we like it:
50% fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 109.472 which is in line with 88.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 109.094 in line with 127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It is worth noting that price is under the moving average,in line with our bearish analysis.
Pivot: 109.472
Why we like it:
88.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 109.094
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 109.749
Why we like it:
50% fibonacci retracement and 61.8% 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.