Title

USDJPY H1 | Bounced off 1st support

Type

Bullish Breakout

Preference:

Price is currently at our pivot 134.47 which is a pullback support level that lines up with 78.6% Fibonacci retracement. A bounce from here price could pish up to 1st resistance at 135.103 which lines up with 23.6% Fibonacci retracement

Alternative scenario:

However, if price breaks below the pivot, it could fall to 1st support at 133.177 which is a swing low support level.

it’s worth noting that price is above the ascending trendline, suggesting a bullish momentum m

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