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MrVolcano
Aug 8, 2016 12:45 PM

USDJPY bottomed?  Long

U.S. Dollar/Japanese YenFXCM

Description

Looks like USDJPY has hit a double-bottom and may be about to show some upside. There's strong bullish sentiment and a Higher-Low. With Stoch divergence.

Waiting for price to break above the resistance at 102.50 before entering LONG, with a target of the upper channel around 105.00.

Trade closed: stop reached

Well spotted, but I didn't really didn't read this situation well. Should have been a looking at a bearish breakout.

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