#USDJPY, H4 bounced from Pivot point, potential for a rise.
Description
Price bounced from our Pivot of 109.565 which is in line with 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 110.037 in line with 78.6%, -27% fibonacci retracement and 88.6% fibonacci extension. It is worth noting that price is above the Ichimoku cloud, and MACD is above the 0 line.
Pivot: 109.565
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 109.289
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 110.037
Why we like it:
78.6%, -27% fibonacci retracement and 88.6% fibonacci extension
Trading FX & CFDs carries high risk.
Price bounced from our Pivot of 109.565 which is in line with 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a bounce from this level to our 1st resistance level of 110.037 in line with 78.6%, -27% fibonacci retracement and 88.6% fibonacci extension. It is worth noting that price is above the Ichimoku cloud, and MACD is above the 0 line.
Pivot: 109.565
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 109.289
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 110.037
Why we like it:
78.6%, -27% fibonacci retracement and 88.6% fibonacci extension
Trading FX & CFDs carries high risk.
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