The USDJPY has formed a definitive bearish divergence at resistance. Bearish divergence happens when price makes a higher high while the oscillator makes a lower high.
We might see a rejection from 112.00-10 POC zone. Targets are 111.44 and 111.22 with a possible continuation move on the 4h close below 111.20. Have in mind that price needs to stay below 112.80 for divergence to remain stable.
A move below 111.10 would signal additional bearish strength and a possibility for a retest of 110.85, D L5 and previous swing low.
We may see an extended target 110.65, W L5.
Many green pips,
Davin Wu aka AmbitionFX