Title
USDJPY H4 | Reacting off the resistance level?

Type
Bearish Reversal

Preference:
Price has just reacted off our pivot point of 147.734, which serves as a multi-swing high resistance level. A reversal from this point could lead the price to drop to the 1st support at 146.478, a pullback support level.

Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 149.375, which is above the 161.8 Fibo extension,

There is a bearish divergence, indicating that the price might reverse soon

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