Type: Bearish ReversalKey Levels:Resistance: 114.514Pivot: 114.253Support: 113.681Preferred Case:Prices are consolidating in a parallel channel. We see the potential for a dip from our Pivot at 114.253 in line with 100% Fibonacci extension and 78.6% Fibonacci extension towards our 1st support at 113.681 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Ichimoku clouds are forecasting the dip and also our RSI is close to a level where dips previously occurred.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 114.514 in line with 127.2% and 100% Fibonacci extension.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-for-pullback23"
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