USDJPY approaching support, potential bounce!
Price is approaching our first support at 111.40 (horizontal overlap support, 50% Fibonacci retracement ) where a strong bounce might occur above this level, pushing price up to our major resistance at 112.20 (horizontal pullback resistance, 61.8% Fibonacci retracement ).
RSI (89) is also seeing a bullish exit and approaching support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bullish exit and approaching support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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