TitleEURJPY H4 | Bearish reaction off 38.2% fibo?TypeBearish ReversalPreference:Price is rising towards our pivot point at 162.36, which is an overlap resistance, aligning with the 38.2% fibo retracement. If price reacts bearishly, then we can expect price to fall to the 1st support at 161.26, which is a swing low support level.Alternative scenario:If price breaks above the pivot point, then we can expect price to rise towards the 1st resistance at 163.23, which is an overlap resistance too, aligning with the 61.8% fibo retracement.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
