Title
USDJPY H4 | Falling to support level
Type
Bullish Breakout
Preference:
Price is rallying to our pivot point of 139.923 which is a pullback resistance level. A reverse from here, price could fall to 1st support at 138.689 which is an overlap support level.
Alternative scenario:
However, if price breaks above the pivot, it could rally to 1st resistance at 140.911
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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.