EURJPY, H4 | Bullish Momentum

eurjpy,-h4-|-bullish-momentum

Type: Bullish BounceKey Levels:Resistance: 131.493Pivot: 130.532Support: 130.078Preferred Case:Prices are on bullish momentum and consolidating in a bullish channel. We see the potential for a bounce from our Pivot at 130.532 in line with 61.8% Fibonacci retracement towards our 1st resistance at 131.493 in line with 78.6% Fibonacci extension. Prices are trading above our Ichimoku Clouds, further supporting our bullish bias.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 130.078 in line with 100% Fibonacci extension.

Source: Tickmill

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