USD/JPY - short-term bottom is in place, likely to test double b

Pair's recovery from the post-NFP low of 110.09 to 110.70 suggests the pair could have bottomed out and is likely to take out the descending trend line (red) and test 112.20 levels (double bottom neckline) next week.

The 4-hour 50-MA has bottomed out as well and that adds credence to the bullish price action.