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ICmarkets
Jan 21, 2019 2:18 AM

USDJPY Approaching Support, Potential Bounce Long

U.S. Dollar/Japanese YenFXCM

Description

USDJPY is approaching its support at 109.07 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 109.84 (horizontal swing high resistance).
Stochastic (21, 5, 3) is approaching its support at 7.6% where a corresponding bounce could occur.
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