USDJPY, H4 approaching Pivot point, potential for a drop.
Description
Price is approaching our Pivot of 108.910 which is in line with 78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap, where we could see a drop from this level to our 1st support level of 108.326 in line with 61.8% fibonacci retracement and horizontal graphical overlap.
Pivot: 108.910
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 108.326
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.265
Why we like it:
127% fibonacci retracement and horizontal swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot of 108.910 which is in line with 78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap, where we could see a drop from this level to our 1st support level of 108.326 in line with 61.8% fibonacci retracement and horizontal graphical overlap.
Pivot: 108.910
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 108.326
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 109.265
Why we like it:
127% fibonacci retracement and horizontal swing high
Trading FX & CFDs carries high risk.
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