UJ, Dollar gains another week, but the bears are here.USD/JPYOANDA:USDJPYDon_BobWeekly Chart: The dollar has extended its gains for the 3rd week in a row, and is getting close to a key resistance level near 159.5. The JPYX index has been in a strong downtrend since April last year, and after two rejections from 676.4 support it's heading toward that level again. This Bearish bias on the JPYX confirms the current structure of the pair, and the possibility of hitting again the 159.5 resistance. From that point bearish pressure its to be expected. Daily Chart: The pair continues to form higher high and higher lows and so far the move has been well supported by MMs participation(increase in volume) . First signs of weakness are starting to appear in the shape of very narrow candles, given the high volume we would expect more confident and wide candles. This is a confirmation that bearish pressure it's increasing. 4h Chart: As mentioned in last week analysis, the pair continued to trade inside the bullish channel and slightly broke the resistance or better pushed higher. Our prediction last week was for 158.3 we hit slightly lower at 158.09. If you like to see that article please click on the link: Since hitting a new high the pair came back down to the low of channel and then proceeded to test that high again (158.0), and encountered further struggle to push the price higher. Currently the PA is squeezed between the lower band of the channel and the resistance. This is further confirmation of weakness and potential reversal. 1h Chart: I think the most interesting signal at this TF is the handing man during the London Session, I interpret this as weakness, as lot of positions were liquidated. Another think to note that the current support has turned into multi confluence level, note how many attempts to break the resistance failed. The channel and the resistance are forming a triangle and we are very close to the squeeze soon the price will not have much space left to move and will have to break the structure. The Plan Looking for a break of the current structure either up or down/ Currently I'm more bearish and looking for that break below the lower band of the channel toward the next support at 156.5. No test needed In case of bullish break the target is 159.5, but first I will wait to see that resistance turn into support. Thank you for dedicating your time reading this. Feedback is welcome. Drop your comment if you support or have something different in mind. Thank you!