EURJPY H1 | Bearish Reversal
Title
EURJPY H1 | Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving towards the pivot level of 160.74, which acts as a pullback resistance close to the 50% Fibonacci retracement. A reversal at this level might cause the price to drop to the 1st support level at 158.22 an overlap support.
Alternative Scenario:
If the price breaks above the pivot, it could rise to the 1st resistance level at 162.72, which serves as a pullback resistance.