JP225USD H4 | Falling to pullback support

TitleJP225USD H4 | Falling to pullback supportTypeBullish BouncePreference:Price is falling towards the pivot point of 32133.96 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 32749.26 which is an overlap resistance that aligns close to the 50.0% Fibonacci retracement level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 31560.54 which is a pullback support that aligns close to the 78.6% 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.