Dollar A.S. / Yen JepangPenjualan
USDJPY, H4 is approaching our Pivot point, potential for a drop.
Description:
Price is approaching our Pivot point at 104.401 which is in line with our 78.6% Fibonacci extension and 61.8% Fibonacci retracement. We could potentially see price drop towards our 1st support level at 103.832, in line with 100% fibonacci extension and horizontal swing low support. It is worth noting that the descending trendline is showing bearish pressure in line with our analysis, and the Stochastic indicator is also testing the horizontal resistance level at 84.73.
Pivot: 104.401
Why we like it:
78.6% Fibonacci extension and 61.8% Fibonacci retracement
1st Support: 103.832
Why we like it:
100% fibonacci extension and horizontal swing low support
1st Resistance: 104.835
Why we like it:
127% Fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 104.401 which is in line with our 78.6% Fibonacci extension and 61.8% Fibonacci retracement. We could potentially see price drop towards our 1st support level at 103.832, in line with 100% fibonacci extension and horizontal swing low support. It is worth noting that the descending trendline is showing bearish pressure in line with our analysis, and the Stochastic indicator is also testing the horizontal resistance level at 84.73.
Pivot: 104.401
Why we like it:
78.6% Fibonacci extension and 61.8% Fibonacci retracement
1st Support: 103.832
Why we like it:
100% fibonacci extension and horizontal swing low support
1st Resistance: 104.835
Why we like it:
127% Fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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