Title
EURJPY H4 | Bearish reaction off 38.2% fibo?

Type
Bearish Reversal

Preference:
Price is rising towards our pivot point at 162.36, which is an overlap resistance, aligning with the 38.2% fibo retracement. If price reacts bearishly, then we can expect price to fall to the 1st support at 161.26, which is a swing low support level.

Alternative scenario:
If price breaks above the pivot point, then we can expect price to rise towards the 1st resistance at 163.23, which is an overlap resistance too, aligning with the 61.8% fibo retracement.

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