EURJPY H4 | Bullish bounce off 38.2% fibo?

TitleEURJPY H4 | Bullish bounce off 38.2% fibo?TypeBullish BouncePreference:Price could fall to our pivot point at 157.9, which is a pullback support level, aligning with the 38.2% fibo retracement and 61.8% fibo projection. Since EURJPY is looking to become bullish, there is a high possibility that the multi-swing high resistance could be broken. If price bounces off our pivot point, then price could rise towards the 1st resistance at 158.52, which is the major multi-swing high resistance level.Alternative scenario:If price falls below our pivot point, then price could fall to the 1st support level at 157.59, which is a swing low support level, and at the 61.8% 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.