FX.co ★ USDJPY reacting above 1st support, facing bullish pressure!

USDJPY is approaching 1st support of 109.064, in line with 50% Fibonacci extension. Prices are expected to rally to 1st resistance of 109.462, in line with 78.6% Fibonacci extension. Prices may fall to 2nd support of 108.809, in line with 161.8% Fibonacci retracement and 78.6% Fibonacci extension. Indicator supports a bullish view.