USD/JPY: A Double Bottom?

The USD/JPY bearish trend has been continuing for weeks now, but appears that there will be a pause in that move to the downside, as the pair formed a double bottom on the four-hour time-frame, as well as a hammer candlestick above the support at 103.50. As you can see in the screenshot above, the move to the upside has already begun, but the pair is yet to form a new high, although with a signal like that I have little doubt that will happen sometime soon. Currently USD/JPY is testing the resistance at 104.80. A breakout above that level would lead to a further move to the upside towards 106.00.