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FX.co ★ USDJPY reacting above 1st support, facing bullish pressure!

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Forex Analysis:::2021-08-03T04:46:51

USDJPY reacting above 1st support, facing bullish pressure!

USDJPY is approaching 1st support of 109.064, in line with 50% Fibonacci extension. Prices are expected to rally to 1st resistance of 109.462, in line with 78.6% Fibonacci extension. Prices may fall to 2nd support of 108.809, in line with 161.8% Fibonacci retracement and 78.6% Fibonacci extension. Indicator supports a bullish view.

USDJPY reacting above 1st support, facing bullish pressure!

Analyst InstaForex
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