Backs off….
The USDJPY moved up tot eh 114.747 high from Friday, and backed off. The high reached 114.756.
When the target is not broken, it can turn the buyers into sellers. We are seeing a reversal back down toward the broken trend line. That line on the 4-hour chart comes in at 114.42. The same line on the daily chart is a touch higher. The low just reached 114.466.