USDJPY, H4 is bounced from our Pivot point, potential for a rise
Description
Price has bounced from our Pivot of 109.998 which is in line with 61.8% fibonacci retracement, 127% fibonacci extension and ichimoku cloud support, where we could see a rise from this level to our 1st resistance level of 111.213, in line with 78.6% and 127% fibonacci retracement. Do note that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 109.998
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and ichimoku cloud support
1st Support: 109.571
Why we like it:
88% fibonacci retracement, 200% fibonacci extension and horizontal swing low support.
1st Resistance: 111.213
Why we like it:
78.6% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot of 109.998 which is in line with 61.8% fibonacci retracement, 127% fibonacci extension and ichimoku cloud support, where we could see a rise from this level to our 1st resistance level of 111.213, in line with 78.6% and 127% fibonacci retracement. Do note that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 109.998
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and ichimoku cloud support
1st Support: 109.571
Why we like it:
88% fibonacci retracement, 200% fibonacci extension and horizontal swing low support.
1st Resistance: 111.213
Why we like it:
78.6% and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
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