#USDJPY is reacting below pivot, potential for drop!
Price is reacting below our pivot level at 110.445, in-line with 78.6% Fibonacci retracement level,100% Fibonacci extension level and horizontal overlap resistance. Price could drop to support at 109.835, in-line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline support. Stochastic is also at resistance level where previous drops occurred.
Alternatively, price may swing towards resistance at 110.805, in-line with 100% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
110.445
78.6% Fibonacci retracement level,100% Fibonacci extension level and horizontal overlap resistance
1st Support:
109.835
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline support
1st Resistance:
110.805
100% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards resistance at 110.805, in-line with 100% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
110.445
78.6% Fibonacci retracement level,100% Fibonacci extension level and horizontal overlap resistance
1st Support:
109.835
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline support
1st Resistance:
110.805
100% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
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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.