USDJPY is approaching Pivot, potential for a bounce.
Price is approaching our Pivot point which is in line with our 38.2% Fibonacci retracement, 38.2% Fibonacci extension and horizontal overlap support. We could potentially see price bounce at this level and make a further rise to our 1st resistance level at 106.691, which is in line with our -27.2% FIbonacci retracement and 61.8% Fibonacci extension. It is worth noting that price is still trending above the Ichimoku cloud, in line with our bullish bias.
Pivot: 105.707
Why we like it:
38.2% Fibonacci retracement, 38.2% Fibonacci extension and horizontal overlap support
1st Support: 104.844
Why we like it:
78.6 fibonacci retracement, 100% Fibonacci extension and horizontal overlap support
1st Resistance: 105.691
Why we like it:
-27.2% FIbonacci retracement and 61.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 105.707
Why we like it:
38.2% Fibonacci retracement, 38.2% Fibonacci extension and horizontal overlap support
1st Support: 104.844
Why we like it:
78.6 fibonacci retracement, 100% Fibonacci extension and horizontal overlap support
1st Resistance: 105.691
Why we like it:
-27.2% 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.