USD/JPY Close To 50.0 Fib Retracement And Weekly H3 Pivot Point Confluence

July 25, 2017 10:27

Intraday time frames are still in downtrend on the USD/JPY pair and at this point there is a retracement. The pair is getting close to the POC zone 111.50-65 (D H4, W H3, EMA89, 50.0, ATR high) where it could reject to retest 111.30 and 111.00 again. A successful rejection and subsequent break of 111.00 should target 110.60. The pair should ideally stay close below 111.85 if bears still want to have the upper hand.

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W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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