I can see a possible inverse head and shoulders formation forming, we have the right shoulder find some res at the 0.88700 zone. I can see that this level has shown previous res and support in the past so gives me alot of confidence in it. We are also in between the 50 and 68 fib retracement levels and if we get a rejection off this we have a 2nd trendline bounce
due to my analysis on the DXY which suggests a weakening dollar i see usdjpy setting up for a short we have already broken the up trend line and have now retested previous resistance also forming a double top formation.
