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19.07.202112:38 Forex Analysis & Reviews: Daily Video Analysis: USDJPY facing bullish pressure, potential for further rise!

Today we take a look at USDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.

Prices are holding above horizontal swing low support and ascending trendline support, in line with 78.6% Fibonacci retracement. We expect prices to rise further to the take profit level, in line with the 61.8% Fibonacci retracement level. Alternatively, prices may drop below the horizontal swing low support, and take support at another horizontal swing low support.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
الخبير التحليلي لدى شركة إنستافوركس
© 2007-2021
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USDJPY short-term bearish pressure | 20th Oct 2021
Price is holding on an ascending channel however, price can be expected to retrace back to the support level. We can expect the price to hit 1st Resistance in line with 161.8% Fibonacci retracement and 78.6% Fibonacci projection and drop down towards the 1st Support in line with 100% Fibonacci.
Author: Dean Leo
02:02 2021-10-20 UTC--4
2338
GBPCHF facing bullish pressure, potential for more upside!
Price is above 1st support at 1.27205 in line with 38.2% Fibonacci retracement and 23.6% Fibonacci extension. It could potentially bullish from 1st support at 1.2705 in line with 38.2% Fibonacci retracement and 23.6% Fibonacci extension to 1st resistance at 1.28183 in line with Horizontal swing.
Author: Dean Leo
01:59 2021-10-20 UTC--4
2068
USDCAD bearish continuation | 20th Oct 2021
On the H4, with the existing bearish sentiment where price is moving below the ichimoku and in a downwards trend within the channel, we may expect to see price head for 1st support at 1.23114 which is a horizontal swing low support in line with the 61.8% Fibonacci extension and 127.2% Fibonacci.
Author: Dean Leo
01:58 2021-10-20 UTC--4
2458
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