USDJPY, H4 is approaching our Pivot point, potential bounce.
Price is facing bearish pressure from pivot which is in line with 50% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down further towards1st support which is in line with horizontal swing low support and 38.2% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.
Pivot: 109.938
Why we like it:
Graphical swing high resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 108.469
Why we like it:
Graphical swing low support, 38.2% Fibonacci retracement
1st Resistance: 110.555
Why we like it:
Graphical swing high resistance, 78.6% Fibonacci retracement
Trading FX & CFDs carries high risk.
Pivot: 109.938
Why we like it:
Graphical swing high resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 108.469
Why we like it:
Graphical swing low support, 38.2% Fibonacci retracement
1st Resistance: 110.555
Why we like it:
Graphical swing high resistance, 78.6% Fibonacci retracement
Trading FX & CFDs carries high risk.
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