Double Bottom at Support

2020-01-05 20:36:00

Here we see a hourly chart on pound vs yen forming a potential double bottom pattern at a previous support level. We are currently trading in a range of 75 pips. Divergence is also showing price falling on rising momentum on this timeframe:

https://www.tradingview.com/x/8FSObvnN/


The daily charts show the same double bottom pattern forming :
https://www.tradingview.com/x/yIrd7wIw/


Im going to look for longs with stops just below 141 while aiming for 142.1xx 142.7xx as profit targets. Possible extended target around 143.8xx.

Please dont forget to like the chart and make sure you put all your ideas regarding GBPJPY in the comments below

Thank you for reading
God bless!