USDJPY H4 | Bearish Reversal
Title
USDJPY H4 | Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving towards the pivot level of 144.15, which serves as a pullback resistance near the 50% Fibonacci retracement. A reversal at this level could cause the price to drop to the 1st support at 142.10, an overlap support. Additionally, the price is below the bearish Ichimoku cloud.
Alternative Scenario:
If the price breaks above the pivot, it may rise to the 1st resistance level at 146.27, which acts as a swing high resistance.