USDJPY is testing Pivot, in line with 61.8% Fibonacci retracement and ascending trendline support, where we could see a bounce and further upside towards 1st Resistance, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance. Stochastics is showing possible bullish pressure in line with our analysis as well.
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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.