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U.S. Dollar / Japanese Yen
Long

USDJPY Bounced Nicely Off Ascending Support

By ICmarkets
Broker
Updated
USDJPY bounced nicely off its support at 108.76 (23.6% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 109.52 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is bounced off its support at 6.3% where it has the potential to rise further.
Trade closed: target reached
USDJPY obeyed the ascending channel and rose perfectly to our profit target!
Bitcoin (Cryptocurrency)BTCUSDChart PatternsForexforexsignalsHarmonic PatternsjpyTrend AnalysisUSDUSDJPYusdjpyshort
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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