USD/JPY Possible Double Top Formation

FX:USDJPY   美元/日元
Possible scenario for further bearish pressure if a double top
is formed between 113.777 and 113.910, and if price even get's that far.

A close above would negate a valid double top and send this market
much higher from there.

If the double top is formed, target 112.481 first, and a close below that will
target 111.087/050 below which is at the 1.618 Fibo extension as well as support from Septembre this year.

Entry strategy 1: a conservative approach would be to wait until price closes below 112.481 with stops above

Entry strategy 2: an aggressive approach would be when a candle closes below the double top , with stops above 113.910 - 113.777.
Target 112.481 nonetheless first, if choosing the aggressive entry strategy.

Also, keep an eye on the DXY , although it looks like it will continue it's bullish trend , on the daily time frame the stochastic indicator (settings 14,3,3) has not
yet reached the oversold region below.

Happy trading
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