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USDJPY, H4 | Potential Bullish Momentum

41071 usdjpy h4 potential bullish momentum

Type: Bullish BounceKey Levels:Resistance: 136.676Pivot: 133.571Support: 131.36Preferred Case:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 133.571 where the horizontal swing low support and 23.6% fibonacci retracement are to our 1st resistance at 136.676 in line with the 100% fibonacci projection and 61.8% fibonacci projection .Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 131.36 where the horizontal overlap support and 50% fibonacci retracement are.

Source: Tickmill

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