USD/JPY right on major support, remain bullish for a bounce from here
July 21, 2017 2:00 am
The price continues to test our major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is right above major support at 1.2% which corresponds with the bounce we’re expecting at price.
Buy above 111.77. Stop loss is at 110.88. Take profit is at 114.32.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The price continues to test our major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is right above major support at 1.2% which corresponds with the bounce we’re expecting at price.
Buy above 111.77. Stop loss is at 110.88. Take profit is at 114.32.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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