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FX.co ★ AUDJPY M5: Double Bottom

AUDJPY M5: Double Bottom

Double BottomThe Double Bottom pattern has formed on the AUDJPY M5 chart. Its upper boundary is at 110.39, its lower boundary is at 110.02, and its width is 36 points. A break above the upper boundary at 110.39 may confirm a trend reversal, with the pattern width defining the projected distance to a potential Take Profit level.
The M5 and M15 time frames may generate more false entry signals.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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