Dollar Yen is shaping up to form either a bullish double bottom or a more bearish triangle pattern. Either way this situation has potential to create trading opportunities over the next few days
The US Dollar bounced on Thursday night. Given that the Fed is still expected to make at least one rate hike this year, the bearish adjustment to last week's shock jobs data may now be over.
Dollar Yen could be in the early stages of a double bottom pattern. This is not yet certain though. We might yet have a more bearish triangle pattern on our hands. Either way, this is a developing pattern with potential to create trading opportunities over the next few days. This video outlines the possibilities.