USDJPY

PRICE WAS ON AN UP TREND ON THE WEEKLY BUT THEN HIT A MAJOR RESISTANCE IN WHICH WE SAW A DOUBLE TOP AT THE 1.21 LEVEL.

IT HAS NOW BROKEN BOTH C.T.L'S AND COULD BE PUSHED DOWN AFTER THE DOUBLE TOP TO TARGET 1 AT 117.0 WHICH IS IN CONFLUENCE WITH THE INNER T.L

AND TARGET 2 AT 116.0 WHICH CAN TOUCH THE MAIN OUTER T.L WHICH THAT IS ANOTHER CONFLUENCE AND COULD ALSO POSSIBLY BE A THIRD TREND LINE BOUNCE ON THE WEEKLY.