TitleCHFJPY H4 | Bullish bounce off pullback supportTypeBullish BouncePreference:Price is falling towards the pivot point of 164.536 which is a pullback support that sits above the 61.8% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 165.49 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 163.932 which is a pullback support that aligns with the 78.6% Fibonacci projection level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
