USDJPY is approaching Pivot, in line with 61.8% Fibonacci retracement and 100% Fibonacci extension, where we could see a short term bounce and further upside towards 1st Resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance. Price is also holding above the moving average support, in line with our bullish bias.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.