USD/JPY: Attempting Double Bottom On Weekly Charts: Levels & Targets – Citi

CitiFX Technical Strategy Research notes that USD/JPY posted a bullish outside week last week indicating higher levels ahead. 

The setup forming looks to be a double bottom which has previously given signs of a decent rally – in both early 2012 and again last year. 

The key level to watch is 114.37. A weekly close above there would confirm the setup and indicate a rally to almost 120,” Citi adds. 

USD/JPY is trading circa 111.25 as of writing. 

Source: Citi Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews http://feedproxy.google.com/~r/Efxnews/~3/yccW55mtYsw/usdjpy-attempting-double-bottom-weekly-charts-levels-targets-citi

from Online Forex Trading Resource
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