#USDJPY, H4 approaching Pivot point, potential for a bounce.
Description
Price is approaching our Pivot of 109.092 which is in line with 61.8%, 50% fibonacci retracement and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.786 in line with 50% fibonacci extension and horizontal swing high.
Pivot: 109.092
Why we like it:
61.8%, 50% fibonacci retracement and horizontal graphical overlap
1st Support: 108.523
Why we like it:
88% fibonacci retracement and horizontal swing low
1st Resistance: 109.786
Why we like it:
50% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 109.092 which is in line with 61.8%, 50% fibonacci retracement and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.786 in line with 50% fibonacci extension and horizontal swing high.
Pivot: 109.092
Why we like it:
61.8%, 50% fibonacci retracement and horizontal graphical overlap
1st Support: 108.523
Why we like it:
88% fibonacci retracement and horizontal swing low
1st Resistance: 109.786
Why we like it:
50% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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