USDJPY is bouncing from our Pivot point, potential for a rise!

Description:
Price is bouncing from our Pivot point at 103.238 which is in line with our 50% Fibonacci retracement and Horizontal graphical support level. We could potentially see price rise towards our 1st resistance level at 103.698, in line with 61.8%, 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area. It is worth noting that price is making a short-term pull-back to the EMA(55) of a larger bearish move.

Pivot: 103.238
Why we like it:
50% Fibonacci retracement and Horizontal graphical support level

1st Support: 102.962
Why we like it:
61.8% fibonacci extension and 88% Fibonacci retracement

1st Resistance: 103.698
Why we like it:
61.8%, 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
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