EURJPY H4 | Potential bullish breakout

Title
EURJPY H4 | Potential bullish breakout

Type
Bullish Bounce

Preference:
EURJPY is sitting on the pivot point at 161.757, which is the overlap resistance. Price could break above the pivot and rise to the 1st resistance at 163.451, the swing-high resistance.

Alternative scenario:
It might break below the pivot and fall to the overlap support at 160.263, which aligns with the 78.6% Fibonacci retracement.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

Source: Tickmill

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EURJPY H4 | Potential bullish breakout

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