#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.
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