#USDJPY, H4 is approaching Pivot, potential for a bounce.
Description
Price is approaching our Pivot of 109.239 which is in line with 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.893 in line with 61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap. It is worth noting that price is above the ascending trendline, in line with our bullish analysis.
Pivot: 109.239
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 108.934
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 109.893
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 109.239 which is in line with 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.893 in line with 61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap. It is worth noting that price is above the ascending trendline, in line with our bullish analysis.
Pivot: 109.239
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 108.934
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 109.893
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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