DOUBLE BOTTOM REVERSAL PATTERN
Updated
After an extensive rundown of the USDJPY, the pair has rebounded and showing possible sign of reversal on the daily chart by producing a Double bottom pattern with the neckline corresponding with 106.80 area.
The pair close above the neck area of the Double bottom which calls for our interest to go long.
Action: Long position @ 106.97
Targets: 1 @ 108.00
2 @ 109.00
SL @ 106.25
The pair close above the neck area of the Double bottom which calls for our interest to go long.
Action: Long position @ 106.97
Targets: 1 @ 108.00
2 @ 109.00
SL @ 106.25
Trade active
first target achieved @ 108 for 92 pps
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