USDJPY H4 I Reacting Against Resistance?
Piece is rising to our pivot point of 141.297, which is a pullback resistance that matches a 50% Fibo retracement. Reversing from here, price could fall to 1st support at 139.114, which is an overlapping support level.
However, if price breaks above the pivot, it could rally to the 1st resistance at 143.014, which is above the 61.8 Fibo retracement.
To discuss this business idea, go to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
Disclaimer: The material provided is for informational purposes only and should not be considered as investment advice. The views, information or opinions expressed in the text belong only to the author, and not to the employer, organization, committee or other group or individual or company of the author.
High Risk Warning: CFDs are complex instruments and have a high risk of losing money quickly due to leverage. 72% and 71% of retail investment accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.