USDJPY broke out of triangle, potential for further upside
Price broke out of symmetrical triangle and is now approaching our pivot level at 109.985 which is in line with 38.2% Fibonacci retracement level and 20EMA. Price could potentially swing towards resistance at 110.44, which is in line with 78.6% Fibonacci retracement level and 100% Fibonacci retracement level and ascending trendline support. RSI is also approaching ascending trendline support for further upside.
Alternatively, price may drop to our support at 109.73, which coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci retracement level and horizontal overlap support
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Alternatively, price may drop to our support at 109.73, which coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci retracement level and horizontal overlap support
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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