Type: Bearish ReversalKey Levels:Resistance: 116.503Pivot: 116.338Support: 115.935Preferred Case:Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a pullback from our Pivot at 116.338 which is a graphical overlap towards our 1st support at 115.935 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred.Alternative Scenario:Alternatively, prices may climb higher towards our 1st resistance at 116.503 in line with 161.8% Fibonacci extension and 161.8% Fibonacci Projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-for-bearish-reaction"
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