EURJPY H4 | Bounced off 78.6% Fibonacci level

TitleEURJPY H4 | Bounced off 78.6% Fibonacci levelTypeBullish BouncePreference:The EURJPY has bounced off the pivot point at 156.166, which is the 78.6% Fibonacci retracement level. The price could rise to the 1st resistance at 158.317, the swing-high resistance.Alternative scenario:The price could pull back and break the pivot point at 156.166, which is the 78.6% Fibonacci retracement level, then fall to the 1st support level at 155.363, a pullback support.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.