FXCM

USDJPY is facing bullish pressure, potential for more upside

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
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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