USD/JPY Falling Wedge Approaches 38.2% Fibonacci Level

news_22_feb_1_usd_jpy-4 hour

The USD/JPY is approaching a 38.2% Fibonacci support level and potential bounce spot.

A failure for price to break above resistance could still indicate an extension of the bearish correction towards lower Fibonacci levels like the 50% Fib.

1 hour

The USD/JPY is testing the support trend line (green) which could cause price to bounce back to the top of the channel resistance (red). Price seems to be building a falling wedge chart pattern as well, which is another factor that could create a bullish response.

Origin: Admiral Markets

Рейтинг FOREX брокеров

Рекомендуемые брокеры


 

Leave a Reply