On this one month chart you can see that USDJPY hasn't made a higher low or a higher high since... well... never... so I'm not even sure what is keeping it aloft at this point as it is in a tight squeeze between averages and that is probably why we are seeing these rounded formations on the daily chart, it is fine to play the swings for some gains but until this pair bottoms and makes a higher low there's no where to go but lower... which might be a great thing for gold bugs for the next few years... just saying...
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Here's a look at a gold chart in comparison below and if you click on the chart you can read all of my notes.
