USDJPY, H4 is testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot of 106.846, which is in line with -27% fibonacci retracement and 61.8% fibonacci extension, where we could see a potential bullish breakout from this level to our 1st Resistance level of 107.362, a fibonacci confluence level. Do note that price is trending above the ascending trendline, in line with our bullish view.
Pivot: 106.846
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
1st Support: 106.343
Why we like it:
61.8% fibonacci retracement, 61.8%, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 107.362
Why we like it:
-61.8% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 106.846, which is in line with -27% fibonacci retracement and 61.8% fibonacci extension, where we could see a potential bullish breakout from this level to our 1st Resistance level of 107.362, a fibonacci confluence level. Do note that price is trending above the ascending trendline, in line with our bullish view.
Pivot: 106.846
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
1st Support: 106.343
Why we like it:
61.8% fibonacci retracement, 61.8%, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 107.362
Why we like it:
-61.8% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Disclaimer
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