FXCM

USDJPY potential for bounce|28th June 2021

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is facing bullish pressure from ascending trendline support in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension . Prices might push up towards horizontal swing high resistance in line with -27.2% Fibonacci retracement and 100% Fibonacci extension . If prices continue to push downwards, prices might take support from horizontal swing low support in line with 50% Fibonacci retracement and 100% Fibonacci extension .

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information

Comments

I know this may be irrelevant to the analysis, but what does that 60 mean next to the currency pair on the left side? I'm new here.
+1 Reply
@logician1 60 min. It’s the time frame
+1 Reply
logician1 memphistory1976
@memphistory1976, Ok, so the total time duration for the trend would be 60 minutes long?
Reply
@logician1 the chart is a 60 min chart. Not how long the trend will last 👍🏾👍🏾👍🏾
+1 Reply
logician1 memphistory1976
@memphistory1976, Ohhhhhhh okay. thank you sir
Reply