#USDJPY, H4 is bouncing from Pivot, potential for a rise.
Description
Price is bouncing from our Pivot of 110.193 which is in line with 38.2%, 61.8% fibonacci retracement and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.807, in line with 127% fibonacci retracement and 100% fibonacci extension. It is worth noting that price is above the ascending trendline, in line with our bullish analysis.
Pivot: 110.193
Why we like it:
38.2%, 61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 109.819
Why we like it:
61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 110.807
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot of 110.193 which is in line with 38.2%, 61.8% fibonacci retracement and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.807, in line with 127% fibonacci retracement and 100% fibonacci extension. It is worth noting that price is above the ascending trendline, in line with our bullish analysis.
Pivot: 110.193
Why we like it:
38.2%, 61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 109.819
Why we like it:
61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 110.807
Why we like it:
127% fibonacci retracement and 100% 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.