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U.S. Dollar / Japanese Yen
Long

USDJPY bouncing nicely off strong support

By Tickmill
Broker

USDJPY is seeing major support at 112.02 (61.8% Fibonacci retracement, horizontal swing low support, 100% Fibonacci extension) and we could possibly look to buy on dips above this major support level for a push up to 113.62 resistance (Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 111.34 (Fibonacci retracement, below strong price action).

Stochastic (34,5,3) is seeing major support above 2.9% where a corresponding bounce could occur.

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Chart PatternsHarmonic PatternsjpyTrend AnalysisUSDUSDJPYusdjpyanalysisusdjpybuyusdjpydailyusdjpylongusdjpylongsetupusdjpyshort
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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