TitleEURJPY H4 | Bullish bounce off 38.2% fibo?TypeBullish BouncePreference:Price could possibly bounce off our pivot point at 158.46, which is an overlap support, aliging with the 38.2% fibo retracement. Price has broken through a major resistance, and could possibly bounce off this current support level, to rise towards the 1st resistance at 159.20, which is a the 100% fibo projection.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support at 157.79, which is a 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.
