Double bottom for USD/JPY. Possible long for Dollar?
Daily chart on the USD/JPY seems to give out a couple of signals that could be worth a long dollar trade. On the chart above, the 'U' shape for a possible Cup and Handle pattern might be shaping, combined with a double bottom at the 107.80 area are giving me the confidence to enter this trade. The fib. retracement just above the 61.8% is the reinforcement I was looking for.
Entering the trade 108.63, with a stop loss @ 108.15 and a take profit @ 109.50.
Good luck
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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.