Type: Bullish BreakoutKey Levels:Resistance: 141.384Pivot: 136.701Support: 134.271Preferred Case:On the H4, with price moving along an ascending trendline and bouncing off the ichimoku support, we have a bullish bias that price will rise to our pivot at 136.701 in line with the swing high resistance and 100% fibonacci projection. Once there is upside confirmation of price breaking pivot, we would expect bullish momentum to carry price to 1st resistance at 141.384 in line with 61.8% fibonacci projection and 100% fibonacci projection.Alternative Scenario:Alternatively, price could drop to 1st support at 134.271 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-rise8"
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