USD/JPY Uplifted

USD/JPY starts the week in the green as it is already up almost a 100 pips. The pair reached the support line at 100.05 on Friday and then proceeded to appreciate. Today, the pair made a low of 100.45 and is already trading at 101.42 with a high of 101.54

Optimistic bears might try to push the price to the upper trend line at 103.40. They have to go through first resistance at 101.50, If that attempt fails, then bears are ready to take it again below 100.00 and even further down below 97. USD/JPY is also on the 50.00% Fibbo retracement at 100.69 and is forming a double bottom at the same level.

Chart: USD/JPY H4