USDJPY is facing bullish pressure, potential for more upside

Name: USDJPY is facing bullish pressure, potential for more upside
Uploaded: 2021-03-16T05:31:27.332446
Channel: FXCM

Long

U.S. Dollar / Japanese Yen (FX:USDJPY)

FX:USDJPY U.S. Dollar / Japanese Yen

Trend Analysis Harmonic Patterns Chart Patterns USD jpy usdjpylong

trendanalysis harmonicpatterns chartpattern usd jpy usdjpylong

Prices are taking support from ascending trendline support and 1st support level, which coincides with 50% Fibonacci retracement and 50% Fibonacci extension. Prices might bounce towards 1st resistance which is 100% Fibonacci extension and -68% Fibonacci retracement Fibonacci confluence area. If prices fall through 1st support, prices might take support on 2nd support which coincides with 100% Fibonacci extension. Prices are also holding above Ichimoku cloud, showing bullish pressure for prices.

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