USDJPY, H4 testing our Pivot point, potential for a drop.
Description
Price is testing our Pivot of 104.605, which is in line with 78.6%, 78.6% fibonacci retracement and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 104.099, which is in line with -27%, 78.6% fibonacci retracement and 61.8% fibonacci extension.
Pivot: 104.605
Why we like it:
78.6%, 78.6% fibonacci retracement and horizontal graphical overlap
1st Support: 104.099
Why we like it:
-27%, 78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 104.980
Why we like it:
-27%, 38.2% and 50% fibonacci retracement.
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 104.605, which is in line with 78.6%, 78.6% fibonacci retracement and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 104.099, which is in line with -27%, 78.6% fibonacci retracement and 61.8% fibonacci extension.
Pivot: 104.605
Why we like it:
78.6%, 78.6% fibonacci retracement and horizontal graphical overlap
1st Support: 104.099
Why we like it:
-27%, 78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 104.980
Why we like it:
-27%, 38.2% and 50% 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.
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.