EURJPY H4 | Bullish bounce off 78.6% fibo?

TitleEURJPY H4 | Bullish bounce off 78.6% fibo?TypeBullish BouncePreference:Price is falling to our pivot point at 157.04, which is a swing low support and at the 78.6% fibo retracement, and slightly below the 78.6% fibo projection. Price could bounce off the pivot point and rise towards the 1st resistance at 157.83, which is a swing high resistance.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support level at 156.62, which is a swing low support 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.