USDJPY, made an upside reverse from the last bottom 104.00 at the end of September. And now a build up for reverse head & shoulders pattern is about to complete. If price revere around 104.48 and break 104.94 resistance above, formation will be completed. The target price is 105.88.
But if USDJPY fall and stays below 104.48 for some time, bulls must be wary because this build-up can easily turn into a reverse cup & handle. If the price breaks below 104.00, we can see an increase in downward pressure.