The USD/JPY has been bullish, but is now stalling under 110.00. The daily chart also shows that there is a double top developing here, with the 200-day simple moving average (SMA) just above.USD/JPY Daily Chart(click to enlarge)Key Resistance:- The daily chart show that price is forming a double top at the key resistance around 110.00.- There might be some more head room until price tags the falling resistance, but it looks like there is strong selling at 110.00.- If price falls below the 106.65 pivot, USD/JPY would have completed a double top. - Then, if price can hold under the 109 area, we can have some confidence for a bearish swing. - The first target for the bearish outlook is the 107 area, with the RSI around 40.- A break below 107 with the RSI going below 40 would be another bearish signal that would open up the 104.50-105 area.