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02sep21

#USDJPY retesting breakout trendline, potential for bouncePrice has came back to retest breakout trendline at our pivot level at 109.900 which is in line with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline support. Price could potentially swing towards resistance at 110.80, which is in line with 100% Fibonacci retracement level and 127.2% Fibonacci extension level. RSI is also at ascending support trendline where previous bounces occurred. Alternatively, price may drop to our support at 109.580, which coincides with 100% Fibonacci retracement level and 100% Fibonacci extension level. Pivot: 109.900 Why we like it: 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline support 1st Support: 109.580 100% Fibonacci retracement level and 100% Fibonacci extension level 1st Resistance: 110.80 100% Fibonacci retracement level and 127.2% Fibonacci extension level Trading FX & CFDs carries high risk.
Long
by VantageMarkets
#GBPUSD is consolidating at pivot, potential for dropPrice is consolidating around pivot level at 1.37725 which is in line with 61.8% Fibonacci retracement level , 78.6% Fibonacci extension and descending trendline resistance. Price may potentially drop to support at 1.36945 which is in-line with 50% Fibonacci retracement and 61.8% Fibonacci extension level. Stochastic is also indicating negative divergence for possible drop. Alternatively, price may swing towards resistance at 1.38190 which is in line with 78.6% Fibonacci retracement and 100% Fibonacci extension level. Pivot: 1.37725 Why we like it: 61.8% Fibonacci retracement level , 78.6% Fibonacci extension and descending trendline resistance 1st Support: 1.36945 50% Fibonacci retracement , 78.6% Fibonacci extension level and Stochastic negative divergence 1st Resistance: 1.38190 78.6% Fibonacci retracement and 100% Fibonacci extension level Trading FX & CFDs carries high risk.
Short
by VantageMarkets