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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.