Title
EURJPY M15 I Falling from a pullback?
Type
Bearish Reversal
Preference:
The price is approaching the pivot level of 161.93. A break below this level could cause the price to fall to 1st support at 160.66, an overlap support close to the 50% Fibonacci retracement.
Alternative Scenario:
If the price bounces off the pivot, it may rise to 1st resistance at 162.47, a swing-high resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.