EURJPY H4 | Bullish breakout

TitleEURJPY H4 | Bullish breakoutTypeBullish BreakoutPreference:Waiting for price to break out of the pivot point at 161.477, the overlap resistance aligning with the 78.6% Fibonacci retracement level. From there price could continue with the bullish momentum and rise to 1st resistance at 163.734, the swing-high resistance.Alternative scenario:The price could make a reversal and pullback to the 1st support at 159.973, the overlap support.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.