USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 109.086 which is in line with 50%, 61.8% fibonacci retracement, 127% fibonacci extension, moving average and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.673 in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 109.086
Why we like it:
50%, 61.8% fibonacci retracement, 127% fibonacci extension, moving average and horizontal graphical overlap
1st Support: 108.714
Why we like it:
78.6% fibonacci retracement, 200% fibonacci extension and horizontal graphical swing low.
1st Resistance: 109.673
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 109.086 which is in line with 50%, 61.8% fibonacci retracement, 127% fibonacci extension, moving average and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.673 in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 109.086
Why we like it:
50%, 61.8% fibonacci retracement, 127% fibonacci extension, moving average and horizontal graphical overlap
1st Support: 108.714
Why we like it:
78.6% fibonacci retracement, 200% fibonacci extension and horizontal graphical swing low.
1st Resistance: 109.673
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Penafian
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