USDJPY, H4 bouncing from our Pivot point, potential for a rise
Description
Price is bouncing from our Pivot of 110.476, which is in line with 38.2%, 61.8% fibonacci retracement, ascending trendline support and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 111.205, in line with -27% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the ascending trendline, moving average and Ichimoku cloud, in line with our bullish view.
Pivot: 110.476
Why we like it:
38.2%, 61.8% fibonacci retracement, ascending trendline support and horizontal graphical overlap
1st Support: 109.975
Why we like it:
127% and 61.8% fibonacci retracement.
1st Resistance: 111.205
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot of 110.476, which is in line with 38.2%, 61.8% fibonacci retracement, ascending trendline support and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 111.205, in line with -27% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the ascending trendline, moving average and Ichimoku cloud, in line with our bullish view.
Pivot: 110.476
Why we like it:
38.2%, 61.8% fibonacci retracement, ascending trendline support and horizontal graphical overlap
1st Support: 109.975
Why we like it:
127% and 61.8% fibonacci retracement.
1st Resistance: 111.205
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
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