USDJPY, H4 reversing from our Pivot point, potential for a drop.

2021년 2월 24일

Description
Price is reversing from our Pivot of 105.566, which is in line with, 38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 105.193, which is in line with 38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap. Its worth noting that price is trending within a squeezing triangle.

Pivot: 105.566
Why we like it:
38.2%, 50%, 78.6% fibonacci retracement, 78.6%, 100% fibonacci extension and horizontal graphical overlap

1st Support: 105.193
Why we like it:
23.6%, 61.8%, 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap

1st Resistance: 106.102
Why we like it:
127%, 88% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance.
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