As per the pre-Tokyo analysis on Thursday, USD/JPY Price Analysis: Bears step on advances above 136.00, the pair dropped in for a brief spell in the 135.50s before claiming all the way back above 136.00. The bulls have reclaimed the area but for how long? {chart} It was noted that the hourly candle has all of the makings for a strong bearish close with a focus on the 135.50s. {chart} However, following a trip to the downside, the pair has crept higher with a high of 136.22 so far. Thus now begs the question,'' where now?'' It could be argued that a bearish head and shoulders are being formed on the daily chart: ... (full story)