USDJPY - Double Bottom Break on upside

USDJPY has a double bottom in place, A break of the neckline(daily close) around 104.30 will open the upside for the pair. The target is the theoretical level of 108.50. I would keep a long position with initial target at 105.80 as this would complete a bearish Gartley. Will look for confirmation and signs of reversal around 105.80 to square off completely( and maybe initiate fresh shorts). If the price pierces through 105.80, then keep a trailing stop for the long. Hopefully, today's NFP will be the trigger for this action.

Commentaire:

The gartley plays out