#USDJPY approaching pivot, potential for drop

Price is consolidating inside a symmetrical triangle and approaching our pivot level at 109.990 which is in line with 78.6% Fibonacci retracement level and descending trendline resistance. Price could potentially push down to support at 109.545, which is in line with 78.6% Fibonacci retracement level, 78.6% Fibonacci retracement level and ascending trendline support.
Alternatively, price may swing towards our resistance at 110.160, which coincides with 61.8% Fibonacci retracement level and 61.8% Fibonacci retracement level

Pivot:
109.990

Why we like it:
78.6% Fibonacci retracement level and descending trendline resistance

1st Support:
109.545
78.6% Fibonacci retracement level, 78.6% Fibonacci retracement level and ascending trendline support

1st Resistance:
110.160
61.8% Fibonacci retracement level and 61.8% Fibonacci retracement level

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