#USDJPY above pivot, potential for a further upside
Price is at above pivot level at 110.67 which is in line with 61.8% Fibonacci retracement level and 127.2% Fibonacci extension level. Price could potentially bounce towards resistance at 111.20 which is in line with 78.6% Fibonacci retracement level and 161.8% Fibonacci extension.
Alternatively, price may drop to our support at 110.08, which coincides with 38.2% Fibonacci retracement level and 61.8% Fibonacci extension level.
Pivot:
110.74
Why we like it:
61.8% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Support:
110.08
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level
1st Resistance:
111.20
78.6% Fibonacci retracement level and 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 110.08, which coincides with 38.2% Fibonacci retracement level and 61.8% Fibonacci extension level.
Pivot:
110.74
Why we like it:
61.8% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Support:
110.08
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level
1st Resistance:
111.20
78.6% Fibonacci retracement level and 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
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