EURJPY H4 | Bearish reversal off 61.8% fibo?

TitleEURJPY H4 | Bearish reversal off 61.8% fibo?TypeBearish ReversalPreference:After forming a double bottom, price is rising towards our pivot point at 158.9, which is a potential pullback resistance level, aligning with the 61.8% fibo retracement and 61.8% fibo projection. We can expect a bearish reversal from the pivot point, for price to fall to the 1st support level at 157.06, which is a multi-swing low support level.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance level at 159.76, which is a swing high resistance 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.