USD/JPY 60min Double Top, Daily RSI Bullish Divergence

9 May 2016

There is potential double top on the 60min at 108.59. Price ran right into some structure. The overall trend is bearish and this looks like a relief really. I would have my stop just above structure at around 108.79 and look to take profits at 107.40. Now on the Daily there is some bullish divergence on the RSI. I think price will pull back to the 107.30's level before making a stronger push up. Good luck trading out there.