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FX.co ★ USD/JPY approaching key support, potential to see a bounce!

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Forex Analysis:::2019-05-06T02:26:18

USD/JPY approaching key support, potential to see a bounce!

USD/JPY approaching key support, potential to see a bounce!

Price is approaching a key support at 110.07 where it could potentially bounce to its resistance.

Entry : 110.7

Why it's good :horizontal swing low support,78.6% fibonacci retracement.100% Fibonacci extension

Stop Loss : 109.72

Why it's good :horizontal swing low support

Take Profit : 111.14

Why it's good :horizontal swing high resistance,50% fibonacci retracement, 61.8% Fibonacci extension

USD/JPY approaching key support, potential to see a bounce!

Analyst InstaForex
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