USDJPY is holding above moving average support, showing potential bullish pressure. We could see a bounce at Pivot, in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension, and further rise towards 1st Resistance, in line with -27.2% Fibonacci retracement and 100% Fibonacci extension.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.