#USDJPY approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 109.956 which is in line with 78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & 61.8% Fibonacci retracement level. Price can potentially take support at 108.973, which is in line with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 110.255, which coincides with 78.6% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance. This is further supported by how price is holding within a bearish channel
Pivot:
109.956
Why we like it:
78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & 61.8% Fibonacci retracement level
1st Support:
108.973
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
110.255
78.6% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.