USDJPY bouncing from our Pivot point, potential for a rise
Description
Price is bouncing from our Pivot of 103.865, which is in line with 38.2%, 50% Fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.357. It is noteworthy that price is trending above the Ichimoku cloud and MACD is above the 0 line, which is in line with our bullish view.
Pivot: 103.865
Why we like it:
38.2%, 50% Fibonacci retracement and horizontal graphical overlap
1st Support: 103.445
Why we like it:
78.6%, 127% Fibonacci retracement, 88% fibonacci extension and horizontal graphical area.
1st Resistance: 104.357
Why we like it:
100% fibonacci extension, -27% fibonacci retracement and swing high resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot of 103.865, which is in line with 38.2%, 50% Fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.357. It is noteworthy that price is trending above the Ichimoku cloud and MACD is above the 0 line, which is in line with our bullish view.
Pivot: 103.865
Why we like it:
38.2%, 50% Fibonacci retracement and horizontal graphical overlap
1st Support: 103.445
Why we like it:
78.6%, 127% Fibonacci retracement, 88% fibonacci extension and horizontal graphical area.
1st Resistance: 104.357
Why we like it:
100% fibonacci extension, -27% fibonacci retracement and swing high resistance
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.