EURJPY H4 | Potential bearish reversal

TitleEURJPY H4 | Potential bearish reversalTypeBearish ReversalPreference:Price is rising towards the pivot point of 158.26 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 156.698 which is an overlap support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 158.913 which is a resistance that aligns with a confluence of Fibonacci levels i.e. the 127.2% extension and the 61.8% retracement levels.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.