EURJPY H4 | Bullish bounce off 23.6% fibo?

TitleEURJPY H4 | Bullish bounce off 23.6% fibo?TypeBullish BouncePreference:Price is within our pivot point and the 23.6% fibo retracement range, at 156.10. Price could potentially make a bullish bounce off this 23.6% fibo retracement, to the 1st resistance at 157.14. Price would then start to reverse from the 1st resistance due to the 78.6% fibo retracement, and multi-swing high key level.Alternative scenario:If price breaks below the pivot point, then price would most likely fall to the 1st support at 155.24, which aligns with the 50% fibo retracement.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.