YEN has been weak for the last couple of days, and thus AUDJPY has gone north, after making Double Bottom.

In fact, this is one of the textbook reversal patterns – Double Bottom + Higher High.  (Bullish divergence is a plus!)

When we see this patter, we should look for Higher Low, and buy!


Here are the possible buy zones.

As usual, we should look for Fib38.2-61.8% area

Special notes …

a) There is a DPP at Fib50%.
b) There is a WPP at Fib61.8%.


The target should be 84.50.  (Measure the length of the neck line and extend it)



Hope this setup helps you build your own.



YJ Baik – Forex.Today @ Tokyo


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