EURJPY H4 | Bullish bounce off 38.2% fibo?
Title EURJPY H4 | Bullish bounce off 38.2% fibo?Type Bullish BouncePreference:Price could potentially bounce off our pivot point at 158.49, which is an overlap support level, aligning with the 38.2% fibo retracement. Since price has been creating higher highs and h...
TitleEURJPY H4 | Bullish bounce off 38.2% fibo?TypeBullish BouncePreference:Price could potentially bounce off our pivot point at 158.49, which is an overlap support level, aligning with the 38.2% fibo retracement. Since price has been creating higher highs and higher lows, we can expect a bounce from here to the 1st resistance level at 158.94, which is a multi-swing high resistance level, or even further.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support level at 158.11, which is a pullback support, below the 61.8% fibo retracement.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
