Title

USDJPY H4 I Continuation of bearish momentum

Type

Bearish reversal

Preference:

The price is rising towards the pivot at 147.86, which is an overlap resistance that aligns with the 38.2% Fibonacci retracement. A reversal from this level could lead the price toward the 1st support at 146.01, a multi-swing low support.

Alternative Scenario:

If the price breaks above the pivot, it could rise to the 1st resistance at 148.73, which is a pullback resistance that aligns with the 61.8% Fibonacci retracement.