USDJPY H1 | Could we see a bounce from here
Title
USDJPY H1 | Could we see a bounce from here?
Type
Bullish bounce
Preference
The price is falling toward the pivot at 157.21, a pullback support level. A bounce from this level could push the price toward the 1st resistance at 157.99, a pullback resistance.
Alternative Scenario
If the price breaks below the pivot, it could fall toward the 1st support at 156.57, which acts as a swing low support.
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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.