USD/JPY UPSIDE BREAK - LOOKING FOR A DOUBLE BOTTOM TRIGGER - See

USDJPY

The rate broke the January falling trendline and the falling gap resistance invalidating my immediate bearish bias on the pair.

I am now looking at this as a potential double bottom formation and will be looking for a neckline break at 115.50 to target the yearly highs at 118.60.

A strong rejection from the neckline would indicate further range trading and a possible move towards the base of the range at 112.60.