USDJPY is approaching our Pivot point, potential for a drop
Price is approaching our Pivot point at 104.485 which is in line with our 61.8%, 38.2% Fibonacci Retracement and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 103.796. It is worth noting that the MACD and descending trendline is showing bearish pressure in line with our analysis. 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.