USDJPY has a small double bottom pattern and being oversold in the short-term this could trigger a move up to the first resistance at 119.25/30. This could hold a move higher but above here look for selling opportunity 119.55/60. Our shorts need a stop above 119.70 but an unexpected break higher meets further resistance at 119.80/85.
Important support at 118.76/70 but be ready to go with a break lower. This would be a sell signal and we could quickly target March lows at 118.30. Exit shorts and try longs in the 118.30/20 area. There is a good chance of a low for the day here but our longs need a stop below 118.00.