Type: Bullish BounceKey Levels:Resistance: 124.623Pivot: 121.237 Support: 119.813Preferred Case:On the H4, with price expected to bounce off the support of the stochastic indicator and moving above the ichimoku cloud, we have a bias that price will rise from our pivot at 121.237 in line with the 23.6% Fibonacci retracement from our 1st resistance at 124.623 in line with the horizontal swing high resistance.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 119.813 in line with the 50% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-for-a-rise"
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