Type: Bullish BounceKey Levels:Resistance: 126.094 Pivot: 123.55Support: 122.619Preferred Case:Prices are on bullish momentum and abiding by an ascending trendline. We see the potential for a bounce from our Pivot at 123.55 in line with 23.6% Fibonacci retracement towards our 1st resistance at 126.094 which is an area of Fibonacci confluences. Prices are trading above our Ichimoku clouds, further supporting our bullish bias.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 122.619 in line with 50% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-further-bullish-continuation"
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