LONG USDJPY approaching major support, potential for a bounce!
USDJPY is approaching its major support at 105.80 (78.6% Fibonacci retracement , horizontal overlap support, 61.8%, 100% Fibonacci extension ). A strong reaction could occur at this level, pushing price up to our next major resistance at 106.37 (horizontal overlap resistance, 38.2% Fibonacci retracement ).
Stochastic (55,5,3) is also approaching its major support at 6% and a corresponding bounce in price could occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching its major support at 6% and a corresponding bounce in price could occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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