USDJPY, H4 reversing from our Pivot point, potential for a drop
Description
Price is reversing from our Pivot of 106.416, which is in line with, 161.8%, -27% fibonacci retracement and 78.6% fibonacci extension, where we could see a potential drop from this level to our first support level of 105.666, a fibonacci confluence level.
Pivot: 106.416
Why we like it:
161.8%, -27% fibonacci retracement and 78.6% fibonacci extension
1st Support: 105.666
Why we like it:
78.6%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 106.733
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot of 106.416, which is in line with, 161.8%, -27% fibonacci retracement and 78.6% fibonacci extension, where we could see a potential drop from this level to our first support level of 105.666, a fibonacci confluence level.
Pivot: 106.416
Why we like it:
161.8%, -27% fibonacci retracement and 78.6% fibonacci extension
1st Support: 105.666
Why we like it:
78.6%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 106.733
Why we like it:
-27% fibonacci retracement and 100% 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.