Type: Bearish MomentumKey Levels:Resistance: 136.42Pivot: 135.00Support: 133.53Preferred Case:On the H4, since price has broken out of an ascending trendline and is moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 135.00 where the pullback resistance is to 1st support at 133.53 in line with swing low support, 61.8% fibonacci retracement and 100% fibonacci projection .Alternative Scenario:Alternatively, price may break pivot structure and rise to the 1st resistance at 136.42 where the pullback resistance is.Fundamentals:The weakening of the DXY should provide relief for the Japanese businesses that are hurt from the weakening of the Yen. This gives me a bullish bias for USDJPY .
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/micro-usd-jpy-futures-m6j1-h4-potential-for-bearish-drop28"
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