USDJPY, H4 bounced from Pivot point, potential for a rise.

Description
Price has bounced from our Pivot of 109.038, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 109.643, in line with -27%, -61.8% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the moving average, in line with our bullish view.

Pivot: 109.038
Why we like it:
61.8% fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap

1st Support: 108.617
Why we like it:
78.6% fibonacci retracement and 127% fibonacci extension.

1st Resistance: 109.643
Why we like it:
-27%, -61.8% fibonacci retracement and 100% fibonacci extension

Trading FX & CFDs carries high risk.