USDJPY, H4 breaking above our Pivot point, potential for a rise
Description
Price is breaking above our Pivot of 109.893, which is in line with 161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.453, in line with 200% fibonacci retracement and -68%, 127% fibonacci extension. Do note that MACD is above 0-line, in line with our bullish view.
Pivot: 109.893
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 109.366
Why we like it:
50%, 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap.
1st Resistance: 110.453
Why we like it:
200% fibonacci retracement and -68%, 127% fibonacci extension
Trading FX & CFDs carries high risk.
Price is breaking above our Pivot of 109.893, which is in line with 161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.453, in line with 200% fibonacci retracement and -68%, 127% fibonacci extension. Do note that MACD is above 0-line, in line with our bullish view.
Pivot: 109.893
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 109.366
Why we like it:
50%, 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap.
1st Resistance: 110.453
Why we like it:
200% fibonacci retracement and -68%, 127% fibonacci extension
Trading FX & CFDs carries high risk.
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