**USDJPY — VMS Trigger Watch | 50% Fib + Resistance**USD/JPYOANDA:USDJPYdarlwrightUSDJPY has moved onto our VMS Trigger Watch. After making a **large bearish move last week**, price has retraced approximately 50% of that move and is now showing signs of rejection. The location has several layers of confluence: • Price is testing the **50% Fibonacci retracement** • The Fib level coincides with a **strong previous resistance zone** • Price is also near the **50 EMA** • A **bearish engulfing candle** is currently developing Momentum may be the most interesting part of this setup. We're seeing what appears to be a strong **bearish divergent momentum structure**, with momentum currently developing its second peak. Now we need the **hook down**. If today's candle completes the rejection and momentum gives us the hook, we'll move to the lower timeframes and evaluate **volume confirmation**. With today's daily close approaching, this setup could potentially complete before the end of the session. But until it does: **Structure — developing ✓ Momentum divergence — developing ✓ Momentum hook — WAIT Volume — WAIT Entry — NONE** USDJPY — **TRIGGER WATCH 👀** We don't predict the market. **We wait for it to show us.** *Educational analysis only. Not financial advice.*