Title
EURJPY H4 | Bullish bounce
Type
Bullish Bounce
Preference:
The price could bounce off the pivot at 158.194, the pullback support, and rise to the 1st resistance level at 160.369, the pullback resistance.
Alternative scenario:
EURJPY could potentially pull back and breakout of the pivot at 158.194, and fall to the 1st support at 156.771, the pullback support level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.