USDJPY – MARKET OF INTEREST | VMS CONTEXTUSD/JPYOANDA:USDJPYdarlwrightMON 12.22 – 5:00 AM We began watching this pair on Friday, and at the moment it is certainly of interest as price reacts at a key level. What stands out: Price has matched a previous swing high, creating a double-top structure A strong down engulfing candle formed directly at this level Momentum is strong to the downside (-82) (Equal highs on momentum — not divergent, but showing sustained selling pressure) Volume is elevated across all timeframes: 4H = 81 1H = 84 15M = 92 About rejection: Rejection here is not textbook — we do not have a clean shooting star or ideal wick structure. However, the engulfing candle combined with strong volume and momentum often tells us when sellers are stepping in. This is the type of area where markets make decisions. As always, we let price action confirm the outcome and remain disciplined to VMS alignment.