CADJPY H1 | Bullish bounce of 23.6% Fibo

TitleCADJPY H1 | Bullish bounce of 23.6% FiboTypeBullish BouncePreference:Price is falling towards the pivot point of 108.885 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 109.33 which is a swing-high resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 108.631 which is a pullback support that aligns with the 38.2% Fibonacci retracement 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.