USDJPY, H4 break above our Pivot point, potential for a rise.
Description
Price has broken above our Pivot of 108.608 which is in line with 38.2%, 78.6% fibonacci retracement, moving average and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.444, in line with -27% fibonacci retracement. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 108.608
Why we like it:
38.2%, 78.6% fibonacci retracement, moving average and horizontal graphical overlap
1st Support: 108.234
Why we like it:
61.8%, 127% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.444
Why we like it:
-27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price has broken above our Pivot of 108.608 which is in line with 38.2%, 78.6% fibonacci retracement, moving average and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 109.444, in line with -27% fibonacci retracement. Do note that price is trending above the moving average, in line with our bullish view.
Pivot: 108.608
Why we like it:
38.2%, 78.6% fibonacci retracement, moving average and horizontal graphical overlap
1st Support: 108.234
Why we like it:
61.8%, 127% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.444
Why we like it:
-27% fibonacci retracement
Trading FX & CFDs carries high risk.
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