FX.co - USD/JPY approaching key support, potential to see a bounce!

2019-05-06T02:26:18

Relevance until2019-05-07

Price is approaching a key support at 110.07 where it could potentially bounce to its resistance.

Entry : 110.7

Why it's good :horizontal swing low support,78.6% fibonacci retracement.100% Fibonacci extension

Stop Loss : 109.72

Why it's good :horizontal swing low support

Take Profit : 111.14

Why it's good :horizontal swing high resistance,50% fibonacci retracement, 61.8% Fibonacci extension

USD/JPY approaching key support, potential to see a bounce!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ USD/JPY approaching key support, potential to see a bounce!