The USD/JPY looks to be consolidating after falling to about 107.65. The 4H chart shows a double bottom attempt.USD/JPY 4H Chart 4/13(click to enlarge)The thing is, the technical picture is still bearish in the 4H chart. 1) The moving averages are in bearish alignment. 2) Price is trading under the 200-, 100-, and 50-period SMAs. 3) The RSI is still under 60.Even if this is a double bottom, I would not chase it right now. I would anticipate a pullback. If there is one, monitor what happens around 108.40-45, the central pivot of the double bottom attempt.If price falls below 108.40, I would invalidate the double bottom. If price can hold above 108.40, then I would be more convinced of a double bottom attempt, in which case I would anticipate upside towards 110.