U.S. Dollar / Japanese Yen

USDJPY BUY

USDJPY formed a double bottom on the 4-hour time frame. If this candle holds at the neckline there is a good chance that we could see price retest the 50 Fib.

We could also see a rejection at the 200 EMA on the 4-hour time frame giving us a bear flag.

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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.