Type:Bearish ReversalResistance: 113.207Support: 110.765Pivot: 112.226Preference:Price is approaching a pivot at 112.226 in line with 127.2% Fibonacci retracement and bullish channel. Price has the potential to dip towards our 1st support at 110.765 in line with 61.8% Fibonacci retracement.Alternative Scenario:Alternatively, price could climb higher towards our 1st resistance 113.207 in line with 161.8% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-is-close-to-a-pivot-potential-for-bounce"
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