USDJPY, H4 approaching our Pivot point, potential for a bounce.
Description
Price has reversed from our Pivot of 103.697, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 103.960. It is noteworthy that price is trending within a squeezing triangle approaching the ascending trendline, in line with our bullish view.
Pivot: 103.697
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 103.463
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal swing low support.
1st Resistance: 103.960
Why we like it:
61.8% fibonacci extension, 61.8%, 23.6% fibonacci retracement and descending trendline resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot of 103.697, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 103.960. It is noteworthy that price is trending within a squeezing triangle approaching the ascending trendline, in line with our bullish view.
Pivot: 103.697
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 103.463
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal swing low support.
1st Resistance: 103.960
Why we like it:
61.8% fibonacci extension, 61.8%, 23.6% fibonacci retracement and descending trendline 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.