USDJPY, H4 is testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot of 104.252, which is in line with -27%, 127% Fibonacci retracement, 50% fibonacci extension, ascending trendline support, where we could see a potential rise from this level to our first resistance level of 104.617. It is noteworthy that price is trending above the ascending trendline, which is in line with our bullish view.
Pivot: 104.252
Why we like it:
-27%, 127% Fibonacci retracement, 50% fibonacci extension, ascending trendline support
1st Support: 103.910
Why we like it:
61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 104.617
Why we like it:
61.8%, 88% fibonacci extension, -27%, -68% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is testing our Pivot of 104.252, which is in line with -27%, 127% Fibonacci retracement, 50% fibonacci extension, ascending trendline support, where we could see a potential rise from this level to our first resistance level of 104.617. It is noteworthy that price is trending above the ascending trendline, which is in line with our bullish view.
Pivot: 104.252
Why we like it:
-27%, 127% Fibonacci retracement, 50% fibonacci extension, ascending trendline support
1st Support: 103.910
Why we like it:
61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 104.617
Why we like it:
61.8%, 88% fibonacci extension, -27%, -68% fibonacci retracement
Trading FX & CFDs carries high risk.
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