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USDJPY, H4 | Potential for Bearish Continuation

40010 usdjpy h4 potential for bearish continuation

Type: Bearish ReversalKey Levels:Resistance: 128.092Pivot: 128.092Support: 126.527Preferred Case:On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our pivot at 128.092 where the horizontal overlap resistance and 23.6% fibonacci retracement are to our 1st support at 126.527 in line with the swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 128.092 where the horizontal overlap resistance, 61.8% fibonacci projection and 50% Fibonacci retracement are.

Source: Tickmill

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