Japanese Yen Triple Bottom (USDJPY Triple Top)

The USDJPY broke out from the 118.22-119.03 consolidation in what could be the C wave of an A-B-C triangle. Remaining below 119.84 warrants a bearish bias for expectations of the reversal from the triangle breakout.

The short term triple top at 119.74 also gives scope to more bearish potential although a break above here potentially leads to a nasty short squeeze towards 119.84. Former resistance at 119.03 is potential support. A potential head and shoulders reversal is visible on the daily.