USDJPY is facing bullish pressure, potential for more upside
Prices are taking support from ascending trendline support and 1st support level, which coincides with 50% Fibonacci retracement and 50% Fibonacci extension. Prices might bounce towards 1st resistance which is 100% Fibonacci extension and -68% Fibonacci retracement Fibonacci confluence area. If prices fall through 1st support, prices might take support on 2nd support which coincides with 100% Fibonacci extension. Prices are also holding above Ichimoku cloud, showing bullish pressure for prices.
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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.