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

from Online Forex Trading Resource
View thesource article here


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s