As a continuation of my initial USDJPY post at the beginning of November, there's a potential Head and Shoulders pattern forming on the USDJPY daily chart. Price has retraced back up into a decent structure zone around 113ish which also has some fibonacci and trendline confluence. Yesterday's daily candle closed fairly bearish off the initial test of these levels. Lower timeframe analysis will be posted in the comments.
1hour chart There's actually a 1hr chart head and shoulders in the right shoulder of the daily chart. THis also is happening around the 50% fib retracement from the daily chart.