#USDJPY, H4 is approaching our Pivot, potential for a bounce.
Description
Price is approaching pivot level of 110.559, which is in line with 61.8% Fibonacci retracement level, 100% Fibonacci extension level and horizontal overlap resistance. We can expect further upside towards 1st resistance at price 109.964. This level coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level. This is further supported by how price is now holding above the ascending trendline.
Pivot:
110.559
Why we like it:
61.8% Fibonacci retracement level, 100% Fibonacci extension levelhorizontal overlap resistance
1st Support:
111.170
88% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
109.964
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 110.559, which is in line with 61.8% Fibonacci retracement level, 100% Fibonacci extension level and horizontal overlap resistance. We can expect further upside towards 1st resistance at price 109.964. This level coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level. This is further supported by how price is now holding above the ascending trendline.
Pivot:
110.559
Why we like it:
61.8% Fibonacci retracement level, 100% Fibonacci extension levelhorizontal overlap resistance
1st Support:
111.170
88% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
109.964
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
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