USDJY approaching support, potential bounce!

٢ أغسطس ٢٠١٨

USDJPY is approaching our first support at 111.41 (horizontal overlap support, 50% Fibonacci retracement) where a strong bounce might occur above this level, pushing price up to our major resistance at 112.20 (horizontal pullback resistance, 61.8% Fibonacci retracement).
RSI (89) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks