Title
USDJPY H4 I Falling to a pullback support
Type
Bearish Reversal
Preference:
Price is rising toward the pivot point of 149.49, which aligns with a 61.8 % Projection + 161.8% Extension. A reverse from this level could lead the price to fall to 1st support at 148.83, a pullback support level.
Alternative scenario:
If price breaks above the pivot, it could rise to 1st resistance at 150.06, above the swing high
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