#USDJPY, H4 is approaching Pivot, potential for a bounce.
Description
Price is approaching our Pivot of 110.088 which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.819 in line with -27% fibonacci retracement and 161.8% fibonacci extension. It is worth noting that price is above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 110.088
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 109.296
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 110.819
Why we like it:
-27% fibonacci retracement and 161.8% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 110.088 which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.819 in line with -27% fibonacci retracement and 161.8% fibonacci extension. It is worth noting that price is above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 110.088
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 109.296
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 110.819
Why we like it:
-27% fibonacci retracement and 161.8% 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.