USDJPY approaching support, potential bounce!
USDJPY is approaching our first support at 109.75 (Horizontal swing low support, 100% fibonacci extension, 50% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 111.43 (horizontal overlap resistance, 38.2% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (21) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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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