Title
USDJPY H4 | Potential bearish reversal
Type
Bullish Bounce
Preference:
Price is falling toward our pivot point of 142.098 which is a pullback support level that aligns with 50% Fibo retracement. A bounce off from here, price could rally to 1st resistance at 143.896 which is a pullback resistance level
Alternative scenario:
However, if price below the pivot, it could fall to 1st support at 140.761 which is a pullback support level
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.