FX.co ★ 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. Price is facing bullish pressure as the MACD continues to hold above the 0 line. We could potentially see a bounce at our buy entry level, in line with our 38.2% Fibonacci retracement level, and a further rise to our take profit level, which is in line with our -27.2% Fibonacci retracement and 161.8% Fibonacci extension levels.