CADJPY H4 | Bearish reversal

Title
CADJPY H4 | Bearish reversal

Type
Bearish Reversal

Preference:
The price is rising toward the pivot point of 109.54, a pullback resistance that aligns with the 38.2% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 108.67, a multi-swing low support level

Alternative scenario:
If the price breaks above the pivot, it could rise to 1st resistance at 110.36, a pullback resistance

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Source: Tickmill

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CADJPY H4 | Bearish reversal

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