Tickmill
Long

USDJPY near support, could possibly bounce

FX:USDJPY   U.S. Dollar / Japanese Yen

USDJPY is approaching our first support at 109.49 (horizontal swing low support, 61.8% Fibonacci extension , 76.4% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 110.69 (horizontal swing high resistance, ,50%&78.6% Fibonacci retracement , 100% Fibonacci extension ). Stochastic is also approaching support.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
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