Type: Bullish BounceKey Levels:Resistance: 116.586Pivot: 115.63Support: 115.045Preferred Case:Prices are on bullish momentum and consolidating in an ascending channel. We see the potential for a bounce from our Pivot at 115.63 in line with 23.6% Fibonacci retracement towards our 1st resistance at 116.586 in line with 127.2% Fibonacci extension. Our bullish bias is further supported by prices trading our Ichimoku clouds.Alternative Scenario:Alternatively, breaking our channel might find prices dipping towards our 1st support at 115.045 in line with 100% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-bullish-continuation6"
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