Hey guys. After meeting my prediction of USDJPY going to 112.019 (see chart below), the price has now formed a double top at the resistance level and has since made a move to support at 111.242. I see three scenarios for USDJPY in the coming days or weeks. First, it will break the support level and hit 110.150 or it will go back to resistance at 111.660 and form a complete head and shoulders pattern before hitting 110.150. The third scenario will be that it actually goes back to retest the neckline of the double top at 111.879 before coming back down. Let's see which of these scenarios will play out.
