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MikulovicFOREX

USDJPY: potential double bottom formation in the making

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
MikulovicFOREX  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY longusd dxylong usdjpylong Double Bottom
16
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trendanalysis chartpattern indicator usdjpy longusd dxylong usdjpylong doublebottom
A double bottom formation is appearing with a 50% ret.

How to trade this chart:

Limit order above the neckline (dashed line)
Market order on break above resistance line (red dotted trendline)

Objective is the previous highs at the 100% level. Potential extension targets are plotted on the chart as 127.2% and 161.8% fib levels.

Good luck to all buying USD!!
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