USDJPY H4 | Potential bearish reversal

Title
USDJPY H4 | Potential bearish reversal

Type
Bearish Reversal

Preference:
Price is currently at our pivot point at 132.692, which is an overlap support along with a 38.2% Fibonacci retracement. If the price were to reverse, it could drop to 1st support at 131.651 along with a 50% Fibonacci retracement.

Alternative scenario:
However, if the price breaks above the pivot point, it could potentially move up towards the 1st resistance level at 133.761

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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USDJPY H4 | Potential bearish reversal

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