Title
EURJPY H4 | Potential bullish bounce
Type
Bullish Bounce
Preference:
The price could reverse to pivot at 160.242, the pullback support, from there price could bounce off pivot and rise to 1st resistance at 161.761, the swing-high resistance.
Alternative scenario:
Price could potentially break out of the pivot and fall to 1st support at 158.963, the swing-low support.
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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.