USDJPY is facing bullish pressure, potential for more upside
Description:
Price is facing bullish pressure as it is trading above the 50% fib retracement and horizontal overlap support. A bounce from our pivot at 105.72 towards 1st resistance at 106.21 could be possible. Failing to edge above the pivot would see price swing towards 1st support where the 76.4% fib retracement and horizontal overlap support are.
Pivot: 105.72
Supporting Points:
50% fib retracement and horizontal overlap support
1st Support: 105.38
Supporting Points:
76% fib retracement
1st Resistance: 106.21
Supporting Points:
Horizontal swing high
Trading FX & CFDs carries high risk.
Price is facing bullish pressure as it is trading above the 50% fib retracement and horizontal overlap support. A bounce from our pivot at 105.72 towards 1st resistance at 106.21 could be possible. Failing to edge above the pivot would see price swing towards 1st support where the 76.4% fib retracement and horizontal overlap support are.
Pivot: 105.72
Supporting Points:
50% fib retracement and horizontal overlap support
1st Support: 105.38
Supporting Points:
76% fib retracement
1st Resistance: 106.21
Supporting Points:
Horizontal swing high
Trading FX & CFDs carries high risk.