Title
USDJPY H4 | Potential reversal from 50% Fibo
Type
Bearish Reversal
Preference:
Price has just reversed from our pivot pint at 133.819 which is an overlap resistance along with a 50% Fibonacci retracement. A reverse from here it could drop to 1st support at 132.046 which is a swing low support level
Alternative scenario:
However, if it breaks above, it could push up to 1st resistance at 135.152 which is a swing high resistance
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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.