USDJPY H4 I Falling from 127.2% Fibo?

TitleUSDJPY H4 I Falling from 127.2% Fibo?TypeBearish ReversalPreference:The price has just reacted off our pivot point of 149.76, which serves as a swing-high resistance level aligning with the 127.2% Fibonacci extension. A reversal from this point could lead to a price drop to the 1st support at 149.29, a pullback support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 150.44, which is above 161.8% 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.