Title

GBPJPY D1  I Potential Bullish Reversal

Type

Bullish Bounce


Preference:

The price is falling towards the pivot level of 197.67, which is a pullback support. . A reversal off this level could cause the price to rise to the 1st resistance at 200.54, a pullbck resistance close to the 161.8% Fibonacci extension 

 

Alternative Scenario:

 If the price breaks below the pivot, it may fall to the 1st support  at 194.17, an overlap support.