The USD/JPY has been bearish entering the month of July but has been in consolidation since.USD/JPY Daily Chart 8/18(click to enlarge)Support around 100:- As we can see in the daily chart, the decline accelerated at the end of June - after the Brexit vote.- Since that dip after Brexit, price has found some support around 100, although price did stretch to 98.78 in June.- This consolidation is essentially between the support just below 100 and resistance around 107.- This week, price has coming down with pressure on the support around 100 again.USD/JPy 4H Chart 8/18(click to enlarge)Double bottom attempt and the bullish outlook:- In the 4H chart we can see that the slide since mid-July has returned price to the lows in July.- So far, we are seeing some support just below 100. - In fact, we could be seeing a double bottom attempt. - If price rises back above 101, we would have a completed double bottom, which opens up the prospect of a bullish market in the short-term.- In a short-term bullish scenario that is within a medium-term consolidation scenario, we should anticipate upside towards the middle of the range, which would be around 103.50-104. - We want to be conservative also because the prevailing trend entering July was bearish. Let's see if price can indeed anchor up and complete a price bottom here around 100.