USD/JPY Double Bottom Might Push the Price to the Upside

1 min read
tarantula fx

tarantula fx

Head of Trading

The USD/JPY has formed a double bottom slightly above the Daily L5 camarilla, in addition to H1 double bottom above the D L4 camarilla. At this point, we might see the bounce

If 108.80 holds the pair could make a push towards 109.25 and 109.50, where 109.90 is the final target. Divergence in the price suggests a possible counter-trend move. Watch for rejection if 108.80 holds.

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