USDJPY is approaching our Pivot point, potential for a drop

27 בנוב׳ 2020

Price is approaching our Pivot point at 104.485 which is in line with our 61.8%, 38.2% Fibonacci Retracement and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 103.796. It is worth noting that the MACD and descending trendline is showing bearish pressure in line with our analysis. Trading FX & CFDs carries high risk.