#USDJPY, H4 approaching Pivot point, potential for a bounce.
Description
Price is approaching our Pivot of 109.221 which is in line with 61.8% fibonacci retracement and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 109.9 in line with 61.8% fibonacci extension. It is worth noting that price is making consistent higher highs and high lows, in line with our bullish analysis.
Pivot: 109.221
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 108.757
Why we like it:
88.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low.
1st Resistance: 109.900
Why we like it:
61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 109.221 which is in line with 61.8% fibonacci retracement and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 109.9 in line with 61.8% fibonacci extension. It is worth noting that price is making consistent higher highs and high lows, in line with our bullish analysis.
Pivot: 109.221
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 108.757
Why we like it:
88.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low.
1st Resistance: 109.900
Why we like it:
61.8% fibonacci extension
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.