USDJPY H4 I Reacting off the resistance?

TitleUSDJPY H4 I Reacting off the resistance?TypeBearish ReversalPreference:Price is currently at our pivot point of 147.382, which serves as an overlap resistance level that aligns with 78.6% Fiob retracement. A reversal from this point could lead the price to drop to the 1st support at 146.132, representing a swing-low support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 148.611 which is above 127.2 Fibo extensionTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.