Type: Bearish ReversalKey Levels:Resistance: 115.246Pivot: 114.986Support: 114.113Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for further bearish continuation from our Pivot at 114.986 in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement towards our 1st support at 114.113 in line with 200% Fibonacci Projection, 127.2% Fibonacci extension and 127.2% Fibonacci extension. Our bearish bias is further supported by prices trading below our Ichimoku cloud resistance and also clouds forecasting bearish momentum.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 115.246 in line with 61.8% Fibonacci extension.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-bearish-continuation"
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