Prices double (triple, actually) bottomed at 122.25 and popped sharply towards 124.50. Despite recent outcomes from Bank of Japan stating that the Yen is too weak, I won't see any bearish potential until we trade above 122.50. That said, a nice 2618 trading opportunity is presenting here on the H4 time frame, where the .618 retracement lines up with the double bottom's neckline and lays at the 123.25 minor psychological level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.