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TitleUSDJPY H4 | Potential reversal from 78.6%TypeBullish BreakoutPreference:The current price is at our pivot level of 130.335, which lines up with an overlap support which is just slightly above the 78.6% Fibonacci retracement level. If there is a reversal from this level, the price could potentially move up to 1st resistance at 133.015 which is an overlap resistance.Alternative scenario:If the price breaks below the pivot point, it may fall to 1st support level at 128.155 , which is a swing low support. It's important to keep in mind that breaking above the descending trendline is necessary for the price to reach 1st resistance level..To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
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USDJPY H4 | Potential reversal from 78.6%
