USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price has bounced from our Pivot of 108.524, which is in line with 61.8% 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 109.400, in line with -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance. Do note that price is trending above the moving average and Ichimoku cloud, in line with our bullish view.
Pivot: 108.524
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 107.924
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 109.400
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 108.524, which is in line with 61.8% 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 109.400, in line with -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance. Do note that price is trending above the moving average and Ichimoku cloud, in line with our bullish view.
Pivot: 108.524
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 107.924
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 109.400
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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