USDJPY testing major support, turn bullish for a small correction
March 22, 2017 8:59 am
The price is testing major support at 111.40 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect a bounce up to at least the 112.92 resistance (Fibonacci retracement, horizontal overlap resistance).
The RSI (34) sees a bullish exit and bullish divergence vs the price signalling that a bounce is impending.
Buy above 111.40. Stop loss at 110.22. Take profit at 112.92.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The price is testing major support at 111.40 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect a bounce up to at least the 112.92 resistance (Fibonacci retracement, horizontal overlap resistance).
The RSI (34) sees a bullish exit and bullish divergence vs the price signalling that a bounce is impending.
Buy above 111.40. Stop loss at 110.22. Take profit at 112.92.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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