JPYBASKET potential for bullish momentum! | 18th Feb 2022
Prices are on bullish momentum and abiding to an ascending trendline. We see the potential for a buy entry at 9029 in line with 50% Fibonacci retracement and 38.2% Fibonacci retracement towards our Take Profit at 9116 in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. Prices are trading above our Ichimoku cloud and also RSI is showing bullish momentum, further supporting our bullish bias.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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