TitleEURJPY H4 | Bullish bounce off 127.2% fibo?TypeBullish BouncePreference:Price is falling to our pivot point at 156.62, which is a multi-swing low support level, aligning with the 127.2% fibo extension and -27.2% fibo expansion levels. Price could potentially bounce off the pivot point and rise towards the 1st resistance at 157.83, which is a swing high resistance level.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support level at 155.85, which is a multi-swing low support 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.
