USDJPY, H4 has broken our Pivot point, potential for a rise.
Description
Price has broken our Pivot of 103.638, which is in line with 38.2%, 38.2%, 78.6% Fibonacci retracement, 78.6% fibonacci extension, descending trendline support and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.289. It is noteworthy that price has broken out of the Ichimoku cloud and descending trendline, which is in line with our bullish view.
Pivot: 103.638
Why we like it:
38.2%, 38.2%, 78.6% Fibonacci retracement, 78.6% fibonacci extension, descending trendline support and horizontal graphical overlap
1st Support: 103.370
Why we like it:
127% fibonacci extension, 61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 104.289
Why we like it:
-27% and 127% Fibonacci retracement.
Trading FX & CFDs carries high risk.
Price has broken our Pivot of 103.638, which is in line with 38.2%, 38.2%, 78.6% Fibonacci retracement, 78.6% fibonacci extension, descending trendline support and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.289. It is noteworthy that price has broken out of the Ichimoku cloud and descending trendline, which is in line with our bullish view.
Pivot: 103.638
Why we like it:
38.2%, 38.2%, 78.6% Fibonacci retracement, 78.6% fibonacci extension, descending trendline support and horizontal graphical overlap
1st Support: 103.370
Why we like it:
127% fibonacci extension, 61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 104.289
Why we like it:
-27% and 127% Fibonacci retracement.
Trading FX & CFDs carries high risk.
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