Home / Cryptocurrency Daily Price Analysis / “USDJPY is approaching support, potential bounce! ” by trader Tickmill — published October 11, 2018 — TradingView

“USDJPY is approaching support, potential bounce! ” by trader Tickmill — published October 11, 2018 — TradingView

USDJPY             is approaching our first support at 112.15 (Horizontal overlap support, 50% Fibonacci retracement , 100% Fibonacci extension ) and a strong bounce might occur above this level pushing price up to our major resistance at 112.94 (horizontal pullback resistance, 38.2% Fibonacci retracement ).
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.

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