A double bottom pattern has been created at the 109.10 USD/JPY exchange rate. The incubator was able to make a single contact on August 16, and then two more touches on September 15, at the same support level. Thus, from this point onward, the two are gaining momentum and could perhaps see an upward trajectory in the next hours.
The support rests at 109.30 with resistance at 109.63 and the price is moving above the Pivot Point at 109.41. The EMA of 10 is going to create a bullish and reaching to EMA100 and EMA of 200. The RSI is moving above the level of 50, the MACD histogram is in negative territory. The Stochastic is moving toward the overbought area and the ADX is not showing a clear signal. The price is going inside the Ichimoku Cloud and the Chinkou Span is moving near the market price. The Tenkan-sen is showing adownward momentum but the Kijun-sen is showing a horizontal state.

• There is resistance at 109.63, followed by resistance at 109.74 and 109.96.
• There is support at 109.30 Below, there is 109.08 and 108.97.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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