USD/JPY- Start of Bullish Market Structure.
Updated
Based on this UJ 4hr chart we can see a few things that are showing some signs of a trend change. We had a double bottom pattern form in a major daily support zone with the 2nd leg shooting off after a positive NFP release. Also a 3rd touch on a ascending trendline can be observed on the daily chart. Another thing to note is the EMA starting to slow down and move sideways after a long momentum filled push down. We saw price break above the 14ema and find resistance at the 50 ema now if prices are to move up we should use the 14EMA as a new support zone. I have indicated the target zones/areas for a potential upswing.
Note
Fundamentals regarding Trump Vs. North Korea is bringing the dollar lower.
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