Title

USDJPY  H4 | Bullish Bounce

Type

Bullish Bounce

Preference:

The price has recently bounced off the pivot level of 144.31. Which acts as a pullback support.  A bounce from this pivot, it could rise to the 1st resistance level at 147.13, a swing high esistance near the 78.6% Fibonacci retracement. Additionally, the price has surpassed the descending trendline.

Alternative Scenario:

 If the price reverses at this level, it might fall  to the 1st  support at 142.88, which is an overlap support.