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EUR/JPY – Double bottom on hourly chart

FX:EURJPY   Euro Fx/Japanese Yen
Pattern – double bottom

Resistance – 123.50, 124.00, 124.67

Support – 122.55, 122.09, 121.48

Pair’s rebound from 121.48 indicates has opened doors for a rise to double bottom formation neckline of 123.50 levels; especially since hourly RSI is well above 50.00 and pointing higher.

On the other hand, a failure to sustain above hourly 200-MA (currently seen at 122.87) would open doors for a sell-off to 122.52 (hourly 100-MA).
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