USD/JPY Forms Double Top Pattern Near 157.90 Resistance

USD/JPY has formed a bearish double top pattern near the 157.90 resistance level, signaling potential reversal in the pair's recent uptrend. This technical formation suggests exhaustion in buying pressure and increased probability of a corrective move lower. The pattern's neckline sits around 156.20, with a decisive break below potentially triggering accelerated selling toward 154.50. Volume analysis confirms weakening momentum on recent attempts to breach 158.00, reinforcing the bearish technical setup. RSI divergence adds to the bearish bias, showing lower highs while price attempted to retest resistance. Traders are advised to watch for confirmation of the pattern completion, which would validate bearish positions. Near-term support levels include 156.50 and 155.80, while any unexpected break above 158.00 would invalidate the double top scenario and potentially reignite bullish momentum.