Title

EURJPY H4 | Bearish Reversal

Type

bullish breakout

Preference:

Price is rising toward the pivot of 161.20, a pullback resistance close to 38.2% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 159.40, an overlap support close to 127.2% Fibo extension. 

Alternative Scenario:

If price breaks above the pivot, it could rise to 1st resistance at 162.70, a multi-swing high resistance