Type: Bullish BounceKey Levels:Resistance: 134.428Pivot: 132.513Support: 131.186Preferred Case:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 132.513 where the horizontal swing low support is to our 1st resistance at 134.428 in line with the 161.8% fibonacci extension and 78.6% fibonacci projection.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 131.186 where the horizontal overlap support is.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-bullish-momentum8"
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