Title
USDJPY H4 | Bullish Reversal
Type
Bullish Reversal
Preference:
The price is falling toward the pivot level at 149.29, a pullback support. A bounce off from this level could rise the price toward the 1st resistance at 151.39, a pullback resistande that aligns with the 50% Fibonacci retracement.
Alternative Scenario:
If price breaks below the pivot, it could drop toward the 1st support at 148.08, a 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.