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USDJPY, H4 | Further Dip

29975 usdjpy h4 further dip

Type: Bearish ReversalKey Levels:Resistance: 114.167Pivot: 113.998Support: 113.348Preferred Case:Prices are on bearish momentum. We see the potential for a sell entry at 113.998 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension towards our Take Profit at 113.348 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 114.167 which is a recent reaction point.

Source: Tickmill

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