USD/JPY - Double Bottom Entry Scenarios
BULLISH SCENARIO - Double bottom pattern on a 4hr USD/YEN chart.
If it breaks out of the neckline then we will enter with a trade of 121.6 pips as that was the range from the previous support at 107.281 to the neckline.
BEARISH SCENARIO - Double bottom pattern on a 4hr USD/YEN chart.
If it fails to break out of the neckline there we will see a push to retest the previous support level of 107.281.
We will enter with a short down to the previous support as it tries to re-test it.
"Markets are 90% psychology" Kaz
Team Fractal from the Kazonomics ecosystem signing off.
If it breaks out of the neckline then we will enter with a trade of 121.6 pips as that was the range from the previous support at 107.281 to the neckline.
BEARISH SCENARIO - Double bottom pattern on a 4hr USD/YEN chart.
If it fails to break out of the neckline there we will see a push to retest the previous support level of 107.281.
We will enter with a short down to the previous support as it tries to re-test it.
"Markets are 90% psychology" Kaz
Team Fractal from the Kazonomics ecosystem signing off.
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