USDJPY, H4 bounced from Pivot point, potential for a rise.

Description
Price has bounced from our Pivot of 108.524, which is in line with 61.8% fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a rise from this level to our 1st Resistance level of 109.400, in line with 161.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance. Do note that price is trending above the moving average and Ichimoku cloud, in line with our bullish view.

Pivot: 108.524
Why we like it:
61.8% fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap

1st Support: 107.924
Why we like it:
127% fibonacci retracement, 100% and 161.8% fibonacci extension.

1st Resistance: 109.400
Why we like it:
161.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance

Trading FX & CFDs carries high risk.