#USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price bounced from our Pivot of 109.565 which is in line with 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 110.037 in line with 78.6%, -27% fibonacci retracement and 88.6% fibonacci extension. It is worth noting that price is above the Ichimoku cloud, and MACD is above the 0 line.
Pivot: 109.565
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 109.289
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 110.037
Why we like it:
78.6%, -27% fibonacci retracement and 88.6% fibonacci extension
Trading FX & CFDs carries high risk.
Price bounced from our Pivot of 109.565 which is in line with 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 110.037 in line with 78.6%, -27% fibonacci retracement and 88.6% fibonacci extension. It is worth noting that price is above the Ichimoku cloud, and MACD is above the 0 line.
Pivot: 109.565
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 109.289
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 110.037
Why we like it:
78.6%, -27% fibonacci retracement and 88.6% 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.