#USDJPY, H4 is testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot of 108.730 which is in line with 78.6%, 78.6%, 78.6%% fibonacci retracement and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.185 in line with 78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing high. Do note that price is above the ascending trendline in line with our bullish analysis. If price fails to hold above the Pivot point, we may see a swing towards the 1st support.
Pivot: 108.730
Why we like it:
78.6%, 78.6%, 78.6%% fibonacci retracement and horizontal graphical overlap
1st Support: 108.728
Why we like it:
127% fibonacci retracement, 88% fibonacci extension and horizontal graphical swing low.
1st Resistance: 109.185
Why we like it:
78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 108.730 which is in line with 78.6%, 78.6%, 78.6%% fibonacci retracement and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.185 in line with 78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing high. Do note that price is above the ascending trendline in line with our bullish analysis. If price fails to hold above the Pivot point, we may see a swing towards the 1st support.
Pivot: 108.730
Why we like it:
78.6%, 78.6%, 78.6%% fibonacci retracement and horizontal graphical overlap
1st Support: 108.728
Why we like it:
127% fibonacci retracement, 88% fibonacci extension and horizontal graphical swing low.
1st Resistance: 109.185
Why we like it:
78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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