USDJPY / H1 / Daily Forex Technical Analysis / 5.30.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 30th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the overall structure price action seems to be printing in a double bottom. Looking at the 1 hour time frame we can see price action had an aggressive bullish bounce off the 109.1 region, if price action manages to pull back and maintain a bullish sentiment we look for an entry Long. Entry for a Long position near the 109.417 area, with a Stop Loss near the 109.125 region, and a target level area of 110.143 to possibly ensure a profitable trade with a 2.49 to 1 R/R.