USDJPY: potential double bottom formation in the making
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!!
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!!