USDJPY is approaching our first support at 111.25 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where a strong bounce could occur pushing price up to our resistance at 114.86 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
RSI (34) is approaching support where we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is approaching support where we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results