USDJPY approaching support, potential bounce!

25 ก.ค. 2018

Price is approaching our first support at 110.78 (horizontal overlap support, 50% Fibonacci retracement, 61.8% Fibonacci extension, long term ascending support line) and a strong bounce might occur below this level pushing price up to our major resistance at 113.09 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price.
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