Title
EURJPY H4 | Bullish bounce off 38.2% fibo?

Type
Bullish Bounce

Preference:

Price is hovering at our pivot point at 159.82, which is a pullback support level, aligning with the 38.2% fibo retracement. Price could bounce off the pivot point and rise towards the 1st resistance at 160.83, which is a swing high resistance level.

Alternative scenario:
If price breaks below the pivot point, then price could fall to the 1st support level at 158.95, which is a pullback support level, aligning with the 61.8% fibo retracement.

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