Title
USDJPY H4 I Falling to overlap support?
Type
Bearish Reversal
Preference:
Price is rising toward our pivot point of 147.361, which serves as an overlap resistance level that aligns with 61.8% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 146.56, an overlap support level.
Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 147.936 which is above a swing-high resistance
There is a bearish divergence, indicating that the price might reverse soon
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
منبع: https://www.tickmill.com/blog/usdjpy-h4-i-falling-to-overlap-support-8th-september-2023
