USDJPY, H4 testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot of 104.337, which is in line with 127%, 61.8% Fibonacci retracement,127% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.550. If price fails to break above our pivot, we could potentially see a swing down towards our first support level of 104.100.
Pivot: 104.337
Why we like it:
127%, 61.8% Fibonacci retracement,127% fibonacci extension and horizontal graphical overlap
1st Support: 104.100
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical support.
1st Resistance: 104.550
Why we like it:
161.8% fibonacci extension and 161.8% fibonacci retracement.
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 104.337, which is in line with 127%, 61.8% Fibonacci retracement,127% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.550. If price fails to break above our pivot, we could potentially see a swing down towards our first support level of 104.100.
Pivot: 104.337
Why we like it:
127%, 61.8% Fibonacci retracement,127% fibonacci extension and horizontal graphical overlap
1st Support: 104.100
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical support.
1st Resistance: 104.550
Why we like it:
161.8% fibonacci extension and 161.8% fibonacci retracement.
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.