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USDJPY, H4 | Potential for Bullish Momentum

41675 usdjpy h4 potential for bullish momentum

Type: Bullish BounceKey Levels:Resistance: 138.669 Pivot: 134.729 Support: 131.492Preference: On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 134.729 in line with the pullback support and 38.2% fibonacci retracement to our 1st resistance at 138.669 where the 161.8% fibonacci extension and 78.6% fibonacci projection are.Alternative Scenario: Alternatively, price may break support structure at the pivot and head for 1st support at 131.492 in line with the swing low support, 100% fibonacci projection and 38.2% fibonacci retracement.

Source: Tickmill

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