FX.co - USD/JPY reaching support, potential bounce!

2019-08-05T06:44:38

Relevance until2019-08-06

USDJPY is testing our first support at 105.77 where we are expecting a bounce up this level.

Entry :105.77

Why it's good : 78.6% Fibonacci retracement, 61.8% Fibonacci extension*2, horizontal swing low support

Take Profit : 107.22

Why it's good : horizontal overlap support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension

USD/JPY reaching support, potential 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 reaching support, potential bounce!