USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 108.734, which is in line with 61.8% fibonacci retracement, 100% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 109.659, in line with -27% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 108.734
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap
1st Support: 108.134
Why we like it:
78.6% fibonacci retracement and 127% fibonacci extension.
1st Resistance: 109.659
Why we like it:
127% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 108.734, which is in line with 61.8% fibonacci retracement, 100% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 109.659, in line with -27% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 108.734
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap
1st Support: 108.134
Why we like it:
78.6% fibonacci retracement and 127% fibonacci extension.
1st Resistance: 109.659
Why we like it:
127% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
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