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USDJPY, H4 | Bullish continuation

Edited on December 31, 2021
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Preference:

Prices are on bullish momentum and abiding to our bullish trendline. We see the potential for a bounce from our Pivot at 115.010 in line with 78.6% Fibonacci extension towards our 200% Fibonacci projection and 100% Fibonacci retracement. Our bullish bias is further supported by prices trading above our Ichimoku clouds and also the cross over of conversion and base line, depicting strong bullish momentum.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 114.711 in line with 200% Fibonacci Projection.

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