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2025-04-29 11:59
Industry The impact of support/resistance at Fibonacci lev
#CurrencyPairPrediction
Fibonacci retracement levels are widely used in technical analysis to identify potential support and resistance areas in currency pairs like USD/JPY. Traders often observe key Fibonacci levels—such as 38.2%, 50%, and 61.8%—to anticipate price reversals or continuations. In USD/JPY, these levels tend to attract significant attention, especially during major trends or corrections. When price approaches a Fibonacci level, it often experiences a pause or reversal due to the clustering of buy/sell orders, increasing market reaction. Thus, Fibonacci levels can enhance the accuracy of entry and exit points in USD/JPY trading strategies.
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The impact of support/resistance at Fibonacci lev
#CurrencyPairPrediction
Fibonacci retracement levels are widely used in technical analysis to identify potential support and resistance areas in currency pairs like USD/JPY. Traders often observe key Fibonacci levels—such as 38.2%, 50%, and 61.8%—to anticipate price reversals or continuations. In USD/JPY, these levels tend to attract significant attention, especially during major trends or corrections. When price approaches a Fibonacci level, it often experiences a pause or reversal due to the clustering of buy/sell orders, increasing market reaction. Thus, Fibonacci levels can enhance the accuracy of entry and exit points in USD/JPY trading strategies.
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