russellw
Long

USDJPY - TRIPLE BOTTOM BREAKOUT?

FX:USDJPY   U.S. Dollar / Japanese Yen
I am BULLISH on Daily for UJ.
Here's why:
1. 3 bottoms (circled in green) suggests price was unable to find lower ground 3 times, making the support a sturdy one.

2. It has already cleared R1 level at 104.317. Unless something out of the blue happens, I don't see why it shouldn't hit R2 at 107.442 area since there's nothing in its way on the chart.

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