USD/JPY Bounce at the Bottom and a Bullish Hammer

Dear Traders,

The USD/JPY is ranging with a slightly bearish trend. However we can see bullish confluence at the bottom which might show a counter trend move.

The price is trying to stay above 107.00. If the “Ninja” managed to hold the ground where 107.00 will stay unbroken, we should see a nice push to the upside. The hammer with oversold conditions shows a potential chance for longs. Targets are 108.50, 109.10 and 110.37. Have in mind that there is a swing potential unless 107.00 is taken out.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea