Type: Bearish ReversalKey Levels:Resistance: 128.011Pivot: 127.083Support: 126.152Preferred Case:On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that prices will drop to our 1st support at 126.152 where our horizontal pullback support, 78.6% Fibonacci projection and 100% Fibonacci projection are at froour pivot at 127.083 in line with horizontal overlap resistance.Alternative Scenario:Alternatively, price may break pivot structure and head for the 1st resistance at 128.011 in line with the horizontal overlap resistance and 38.2% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-bearish-continuation25"
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