USDJPY is facing bullish pressure from ascending trendline support in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension . Prices might push up towards horizontal swing high resistance in line with -27.2% Fibonacci retracement and 100% Fibonacci extension . If prices continue to push downwards, prices might take support from horizontal swing low support in line with 50% Fibonacci retracement and 100% Fibonacci extension.
Trading Recommendation
Entry: 110.582
Reason for Entry:
78.6% Fibonacci retracement, 61.8% Fibonacci extension
Take Profit: 110.983
Reason for Take Profit:
Horizontal swing high resistance, -27.2% Fibonacci retracement, 100% Fibonacci extension
Stop Loss: 110.382
Reason for Stop Loss:
Horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension
