#USDJPY, H4 is approaching our Pivot, potential for a bounce.
Description Price is approaching our Pivot of 110.768 which is in line with 127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 111.659, in line with 78.6%, 88.6% fibonacci extension and horizontal swing high. It is worth noting that price is trending above the ascending trendline, in line with our bullish analysis.
Pivot: 110.768 Why we like it: 127% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 110.137 Why we like it: 61.8% and 127% fibonacci retracement
1st Resistance: 111.659 Why we like it: 78.6%, 88.6% fibonacci extension and horizontal swing high
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