#USDJPY approaching pivot, potential for drop!
Price is approaching our pivot level at 112.100, in-line with -61.8% Fibonacci retracement level and 127.2% Fibonacci extension. Price could potentially drop to support at 111.365, in-line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA. Stochastic is also at resistance where previous drops occurred.
Alternatively, price may swing towards our resistance at 112.500, in-line with 200% Fibonacci retracement level and 161.8% Fibonacci extension.
Pivot:
112.100
Why we like it:
-61.8% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
111.365
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
112.500
200% Fibonacci retracement level and 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards our resistance at 112.500, in-line with 200% Fibonacci retracement level and 161.8% Fibonacci extension.
Pivot:
112.100
Why we like it:
-61.8% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
111.365
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Resistance:
112.500
200% Fibonacci retracement level and 161.8% 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.