empty
 
 
14.03.2022 06:30 AM
USDJPY Potential For Short Pullback | 14th Mar 2022

This image is no longer relevant
On the H4 timeframe, prices are at a strong weekly resistance. We see the potential for a dip from our 1st resistance at 117.517 in line with 161.8% Fibonacci projection towards our 1st support at 116.908 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci retracement. RSI is at levels where dips previously occurred, further supporting our bias of a pullback. Alternatively, prices may climb towards our 2nd resistance at 118.298 in line with 200% Fibonacci Projection.

Trading Recommendation

Entry: 117.517

Reason for Entry:

161.8% Fibonacci projection

Take Profit: 116.908

Reason for Take Profit:

23.6% Fibonacci retracement and 61.8% Fibonacci retracement

Stop Loss: 118.298

Reason for Stop Loss:

200% Fibonacci Projection

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dean Leo
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback