#USDJPY, H4 is approaching Pivot, potential for a bounce.

Description
Price is approaching our Pivot of 110.088 which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st resistance level of 110.819 in line with -27% fibonacci retracement and 161.8% fibonacci extension. It is worth noting that price is above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.

Pivot: 110.088
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap

1st Support: 109.296
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap

1st Resistance: 110.819
Why we like it:
-27% fibonacci retracement and 161.8% fibonacci extension

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