USDJPY is facing bullish pressure, potential for more upside
Description:
Price is facing bullish pressure as it is trading above the 23% fib retracement and horizontal pullback support. A bounce from our pivot at 105.76 towards 1st resistance at 106.20 could be possible. Failing to edge above the pivot would see price swing towards 1st support where the 50% fib retracement and horizontal overlap support are.
Pivot: 105.76
Supporting Points:
23% fib retracement and horizontal pullback support
1st Support: 105.40
Supporting Points:
50% fib retracement and horizontal overlap support
1st Resistance: 106.20
Supporting Points:
Horizontal swing high
Price is facing bullish pressure as it is trading above the 23% fib retracement and horizontal pullback support. A bounce from our pivot at 105.76 towards 1st resistance at 106.20 could be possible. Failing to edge above the pivot would see price swing towards 1st support where the 50% fib retracement and horizontal overlap support are.
Pivot: 105.76
Supporting Points:
23% fib retracement and horizontal pullback support
1st Support: 105.40
Supporting Points:
50% fib retracement and horizontal overlap support
1st Resistance: 106.20
Supporting Points:
Horizontal swing high