EURJPY H4 | Bearish reaction off 61.8% fibo?

TitleEURJPY H4 | Bearish reaction off 61.8% fibo?TypeBearish ReversalPreference:Price is rising towards the pivot point at 157.9, which is a pullback resistance level, aligning with the 61.8% fibo retracement. If price closes below our pivot point, then we can expect price to fall to the 1st support at 157.23, 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 at 158.44, which is a multi-swing high resistance level and aligning 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.