USDJPY, approaching pivot. Potential for a reversal

Description:
Price is approaching our pivot level where the 50% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing high resistance are. With Stochastics showing bearish pressure, it is possible to see a medium probability bearish scenario below pivot level, with 1st support at 103.698 as a potential target. Otherwise, failing to break above the pivot would see price swing towards 1st resistance where the 61.8% Fibonacci extension is.

Pivot: 103.890
Supporting Points:
50% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing high resistance

1st Support: 103.698
Supporting Points:
50% Fibonacci extension & horizontal overlap support

1st Resistance: 103.992
Supporting Points:
61.8% Fibonacci extension and horizontal pullback resistance
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