#USDJPY above pivot, potential for a drop!

Price is at below pivot level at 110.67 which is in line with 61.8% Fibonacci retracement level and 127.2% Fibonacci extension level. Price may potentially drop to our support at 110.08, which coincides with 38.2% Fibonacci retracement level and 61.8% Fibonacci extension level.
Alternatively, price may potentially bounce towards resistance at 111.20 which is in line with 78.6% Fibonacci retracement level and 161.8% Fibonacci extension.

Pivot:
110.74

Why we like it:
61.8% Fibonacci retracement level and 127.2% Fibonacci extension level

1st Support:
110.08
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level

1st Resistance:
111.20
78.6% Fibonacci retracement level and 161.8% Fibonacci extension level
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