USD/JPY Bounced Nicely Off Its Support, Prepare For A Further Rise
April 12, 2018 5:21 am
USD/JPY tested its support and bounced off it at 106.64 (61.8% Fibonacci extension, 50% Fibonacci retracement, 60% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 107.50 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (21, 5, 3) made a corresponding bounce off its support where we expect to see it rise.
Buy above 106.64. Stop loss at 106.13. Take profit at 107.50.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY tested its support and bounced off it at 106.64 (61.8% Fibonacci extension, 50% Fibonacci retracement, 60% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 107.50 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (21, 5, 3) made a corresponding bounce off its support where we expect to see it rise.
Buy above 106.64. Stop loss at 106.13. Take profit at 107.50.
The material has been provided by InstaForex Company – www.instaforex.com
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