Looking at the weekly chart on Usd/Jpy this retracement that the pair is in now could be more than just a pullback
from the highs - Usd/Jpy has failed to break previous weekly highs, leaving the possibility of a double top
Usd/Jpy weekly chart
Fibonacci expansion area of last move 61.8% has a target above previous highs around 106.4
and this should be the next target for the pair if it is to remain bullish,
if a high is in place it could be a turn to bearish sentiment of the pair with the double…
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