#USDJPY approaching pviot, potential for a drop!
Price is approaching our pivot level at 109.720, in-line with 61.8% Fibonacci retracement level and 50MA. Price could potentially drop to support at 109.095, in-line with 78.6% Fibonacci retracement level, 78.6% Fibonacci extension and swing low support
Alternatively, price may swing towards our resistance at 110.080, in-line with 100% Fibonacci retracement level and swing high resistance.
Pivot:
109.720
Why we like it:
61.8% Fibonacci retracement level and 50MA
1st Support:
109.095
78.6% Fibonacci retracement level, 78.6% Fibonacci extension and swing low support
1st Resistance:
110.080
100% Fibonacci retracement level and swing high resistance
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards our resistance at 110.080, in-line with 100% Fibonacci retracement level and swing high resistance.
Pivot:
109.720
Why we like it:
61.8% Fibonacci retracement level and 50MA
1st Support:
109.095
78.6% Fibonacci retracement level, 78.6% Fibonacci extension and swing low support
1st Resistance:
110.080
100% Fibonacci retracement level and swing high resistance
Trading FX & CFDs carries high risk.
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