Type: Bullish BreakoutKey Levels:Resistance: 140.67Pivot: 136.781Support: 134.354Preferred Case:On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise to our pivot at 136.781 where the swing high resistance and 61.8% fibonacci projection are. Once there is upside confirmation, we would expect bullish momentum to carry price to our 1st resistance at 140.67 where the 61.8% fibonacci projection is .Alternative Scenario:Alternatively, price may drop to 1st support at 134.354 in line with the swing low support, 100% fibonacci projection and 23.6% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-potential-bullish-rise"
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