USDJPY testing our Pivot point, potential for a bullish breakout
Description
Price is testing our Pivot of 105.098, which is in line with 100%, 200%, 61.8% fibonacci extension and horizontal graphical overlap
,where we could see a potential rise from this level to our first resistance level of 105.415. If price fails to break above our pivot, we could potentially see a swing down towards our first support level of 104.655.
Pivot: 105.098
Why we like it:
100%, 200%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 104.655
Why we like it:
38.2% Fibonacci retracement, 100% fibonacci extension and horizontal graphical support.
1st Resistance: 105.415
Why we like it:
100% fibonacci extension and -61.8%, 241.4%, -61.8% fibonacci retracement.
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 105.098, which is in line with 100%, 200%, 61.8% fibonacci extension and horizontal graphical overlap
,where we could see a potential rise from this level to our first resistance level of 105.415. If price fails to break above our pivot, we could potentially see a swing down towards our first support level of 104.655.
Pivot: 105.098
Why we like it:
100%, 200%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 104.655
Why we like it:
38.2% Fibonacci retracement, 100% fibonacci extension and horizontal graphical support.
1st Resistance: 105.415
Why we like it:
100% fibonacci extension and -61.8%, 241.4%, -61.8% fibonacci retracement.
Trading FX & CFDs carries high risk.
Disclaimer
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