USDJPY is facing bullish pressure, potential for more upside.
Description:
Price is facing bullish pressure as it is now holding above the Ichimoku cloud, in line with our bullish bias. A bounce from our pivot at 103.644 towards 1st resistance at 104.304 could be possible. Failing to edge above the pivot would see price swing towards 1st support where graphical pullback support and 61.8% Fibonacci retracement is.
Pivot: 103.644
Supporting Points:
50% Fibonacci retracement, 78.6% Fibonacci extension, graphical swing low support
1st Support: 103.277
Supporting Points:
61.8% Fibonacci retracement and graphical pullback support
1st Resistance: 104.304
Supporting Points:
Graphical swing high resistance
Trading FX & CFDs carries high risk.
Price is facing bullish pressure as it is now holding above the Ichimoku cloud, in line with our bullish bias. A bounce from our pivot at 103.644 towards 1st resistance at 104.304 could be possible. Failing to edge above the pivot would see price swing towards 1st support where graphical pullback support and 61.8% Fibonacci retracement is.
Pivot: 103.644
Supporting Points:
50% Fibonacci retracement, 78.6% Fibonacci extension, graphical swing low support
1st Support: 103.277
Supporting Points:
61.8% Fibonacci retracement and graphical pullback support
1st Resistance: 104.304
Supporting Points:
Graphical swing high resistance
Trading FX & CFDs carries high risk.