#USDJPY, H4 is approaching our Pivot, potential for a bounce.
Description
Price is approaching our Pivot of 110.768 which is in line with 127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 111.659, in line with 78.6%, 88.6% fibonacci extension and horizontal swing high. It is worth noting that price is trending above the ascending trendline, in line with our bullish analysis.
Pivot: 110.768
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 110.137
Why we like it:
61.8% and 127% fibonacci retracement
1st Resistance: 111.659
Why we like it:
78.6%, 88.6% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 110.768 which is in line with 127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 111.659, in line with 78.6%, 88.6% fibonacci extension and horizontal swing high. It is worth noting that price is trending above the ascending trendline, in line with our bullish analysis.
Pivot: 110.768
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 110.137
Why we like it:
61.8% and 127% fibonacci retracement
1st Resistance: 111.659
Why we like it:
78.6%, 88.6% fibonacci extension and horizontal swing high
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.