USDJPY is facing bullish pressure, potential for more upside
Description:
Price is facing bullish pressure as it is trading above the 23% fib retracement and horizontal overlap support. A bounce from our pivot at 105.39 towards 1st resistance at 105.77 could be possible. Failing to edge above the pivot would see price swing towards 1st support where the 50% fib retracement and horizontal overlap support are.
Pivot: 105.39
Supporting Points:
23% fib retracement and horizontal overlap support
1st Support: 105.06
Supporting Points:
50% fib retracement and horizontal overlap support
1st Resistance: 105.77
Supporting Points:
Horizontal swing high
Trading FX & CFDs carries high risk.
Price is facing bullish pressure as it is trading above the 23% fib retracement and horizontal overlap support. A bounce from our pivot at 105.39 towards 1st resistance at 105.77 could be possible. Failing to edge above the pivot would see price swing towards 1st support where the 50% fib retracement and horizontal overlap support are.
Pivot: 105.39
Supporting Points:
23% fib retracement and horizontal overlap support
1st Support: 105.06
Supporting Points:
50% fib retracement and horizontal overlap support
1st Resistance: 105.77
Supporting Points:
Horizontal swing high
Trading FX & CFDs carries high risk.