USDJPY is approaching our first support at 105.55 (61.8% Fibonacci retracement , 100% Fibonacci extension ). A strong bounce might occur at this level, pushing price up to our major resistance at 106.12 (38.2% Fibonacci retracement , Horizontal pullback resistance).
RSI is also approaching its major support at 23%, in line with the potential downside before price reaches our buy entry. A bounce off this level might be a good precursor of a rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI is also approaching its major support at 23%, in line with the potential downside before price reaches our buy entry. A bounce off this level might be a good precursor of a rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.