USDJPY: Short Term Short

There are two pinbars form on the 4H on the USDJPY at the 71.8 fib level. I believe price is still going to go higher, possibly 120.000. But for now, the price will retrace itself. The 2 pinbars are usually a great sign of a reversal. I would sell with a SL at 190.000. My target would be the previous support 116.000. If it breaks support, price will go lower. But I believe there is one more up move to test the trendline at the 78.6 fibs. After that we should have a higher chance of finding a good sell on USDJPY