USDJPY, H4 reversed from our Pivot point, potential for a drop.

Description
Price is under our Pivot of 108.008 which is in line with 61.8% fibonacci retracement, 127% fibonacci extension, moving average and horizontal graphical overlap, where we could see a drop from this level to our 1st Support level of 107.206, in line with 88% and 127% fibonacci extension. Do note that price is trending under the moving average, in line with our bearish view.

Pivot: 108.008
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension, moving average and horizontal graphical overlap

1st Support: 107.206
Why we like it:
88% and 127% fibonacci extension

1st Resistance: 108.430
Why we like it:
61.8% and 227% fibonacci extension

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