USDJPY is facing bearish pressure, potential for more downside.
Description:
Price is facing bearish pressure as it broke below the symmetrical triangle, in line with our bearish bias. A drop from our pivot at 103.659 towards 1st support at 103.277 could be possible. Failing to edge below the pivot would see price swing towards 1st resistance where graphical swing high is.
Pivot: 103.662
Supporting Points:
38% Fibonacci retracement
1st Support: 103.277
Supporting Points:
61.8% Fibonacci retracement and 78.6% fib extension
1st Resistance: 104.077
Supporting Points:
Graphical swing high resistance
Trading FX & CFDs carries high risk.
Price is facing bearish pressure as it broke below the symmetrical triangle, in line with our bearish bias. A drop from our pivot at 103.659 towards 1st support at 103.277 could be possible. Failing to edge below the pivot would see price swing towards 1st resistance where graphical swing high is.
Pivot: 103.662
Supporting Points:
38% Fibonacci retracement
1st Support: 103.277
Supporting Points:
61.8% Fibonacci retracement and 78.6% fib extension
1st Resistance: 104.077
Supporting Points:
Graphical swing high resistance
Trading FX & CFDs carries high risk.