USDJPY, H4 break above our Pivot point, potential for a rise.
Description
Price has broken above our Pivot of 108.876 which is in line with 50% fibonacci retracement, 61.8% fibonacci extension, moving average and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.434, in line with 78.6%, 127% fibonacci retracement and 127% fibonacci extension. Do note that price is trending under the moving average, in line with our bullish view.
Pivot: 108.876
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension, moving average and horizontal graphical overlap
1st Support: 108.211
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.434
Why we like it:
78.6%, 127% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Price has broken above our Pivot of 108.876 which is in line with 50% fibonacci retracement, 61.8% fibonacci extension, moving average and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.434, in line with 78.6%, 127% fibonacci retracement and 127% fibonacci extension. Do note that price is trending under the moving average, in line with our bullish view.
Pivot: 108.876
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension, moving average and horizontal graphical overlap
1st Support: 108.211
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.434
Why we like it:
78.6%, 127% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
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