Title

USDJPY H4 I Bearish Reversal

Type

Bearish Reversal 

Preference:

The price is moving up towards the pivot level of 0.6121, which acts as a pullback resistance close to the 23.60 Fiboancci retracement. A reversal at this level could cause the price to drop to the 1st  support at 0.6039, an overlap support close to the 61.80% Fibonacci retracement.

Alternative Scenario:

 If the price breaks above the pivot, it may rise to the 1st resistance level at 0.6185, a pullback resistance close to the 38.20% Fibonacci retracememt.