USD/JPY – Double Bottom says UP

Note: Unemployment claims was positive

Bullish:  We are currently @ 131.61 after putting in a double bottom. We are  in a range. We are looking for a continuation to the 1.000 Fibo @ 132.88 with a further target at the  ATR target @ 133.36.  We have divergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 192 pips and it’s 180 day average is 187 pips per day. USDX is currently moving up.