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.
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