Type: Bearish ReversalKey Levels:Resistance: 137.766Pivot: 136.703Support: 134.766Preferred Case:On the H4, with price broken out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will rise and drop from our pivot at 136.703 where the overlap resistance is to the 1st support at 134.766 where the swing low support and 61.8% fibonacci retracement are.Alternative Scenario:Alternatively, price could break pivot structure and head for 1st resistance at 137.766 where the pullback resistance and 61.8% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-bearish-continuation257"
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