Title
EURJPY H4 | Bouncing off Fibo level

Type
Bullish Bounce

Preference:
The price is bouncing off the pivot point at 159.999, an overlap support that aligns with 23.6% Fibonacci retracement. From there price might rise to 1st resistance at 161.634, an overlap resistance.

Alternative scenario:
It might reverse and break the pivot point, from there it could fall to 1st support at 158.536, an overlap support aligning with 50% Fibonacci retracement.

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