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USDJPY, H4 | Bullish Bounce

30579 usdjpy h4 bullish bounce

Type: Bullish BounceKey Levels:Resistance: 114.233Pivot: 113.61Support: 113.473Preferred Case:Prices are consolidating in a triangular pattern. We see the potential for a bounce from our Pivot at 113.61 in line with our ascending trendline support towards our 1st resistance at 114.233 in line with 50% Fibonacci retracement and 23.6% Fibonacci retracement. RSI is at level where bounces previously occurred.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 113.473 in line with 61.8% Fibonacci extension

Source: Tickmill

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