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Tickmill
Apr 25, 2018 3:11 AM

USDJPY approaching resistance, potential breakout!  Long

U.S. Dollar/Japanese YenFXCM

Description

Price is approaching our intermediate resistance at 109.25 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a breakout above this level might push price up to our major resistance at 110.32 (horizontal overlap resistance, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (34) is also seeing a bullish exit, a good precursor for a potential rise in price.
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Comments
Cvincvs12
Hey man bit of a newbie, but what low/high did you use to place the fib 23.6 on the first support?
mortdiggiddy
Similar thoughts:
mortdiggiddy
Thanks for the RSI breakout confirmation... always forget about that. Nice backtest on it too.
mortdiggiddy
110.00 big level.
UnknownUnicorn2319293
fantastic
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