USDJPY approaching support, potential bounce!
Price is approaching our first support at 110.78 (horizontal overlap support, 50% Fibonacci retracement, 61.8% Fibonacci extension, long term ascending support line) and a strong bounce might occur below this level pushing price up to our major resistance at 113.09 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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