After breaking down from its rising wedge, USDJPY has reversed but fails to get above the bigger descending channel that it's in. It finds resistance at the downtrending reistance line and support right at the 20 MA. I expect USDJPY to decline a little here as it can be seen to have formed a double top and it has bearish divergence (the short blue diagonal lines) on the RSI for timeframes 45 minute and lower. The MACD on most time frames is also bearish. See my last post about this pair below:
