As seen on chart H4 the pair USDJPY formed a Double Top formation. Recent Highs from December 15 and January 3 are nearly equal (118,66-118,60). The DT formation is very often a signal of trend changing . Today was also broken a important support level 116,00. If this level now as a resistance will stop USDJPY from growing ,we can expect some more declines even to 113.35.
Of course we need to remember about tomorrows macro events –Unemployment data and Non Farm Payrolls in USA ,which will be reported at 14:30 (GMT+1) and can change a lot on the market especially in pairs connected with USD.
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