• USDJPY bounced off key resistance, could possibly drop

    USDJPY is approaching our first resistance at 110.012 (61.8% Fibonacci extension,23.6% ibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 109.047(horizontal swing low support, 100% Fibonacci extension). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

  • Summary

    Today we are seeing a nice setup on SPX and XAUUSD as it is approaching resistance where we expect a drop below this level. Here are some of our nice calls previously: UK100 bounced perfectly from our first support: https://www.tradingview.com/chart/USDJPY/nyPN8zim-HSI-approaching-support-potential-bounce/