USD/JPY: head & shoulders forming? - BBH

Analysts at Brown Brothers Harriman noted that the dollar snapped a three-week advance against the yen and fell in four of last week's five sessions.

Key Quotes:

"The greenback rallied from near JPY100 in late-September to  JPY104.20 on October 13. 

It may be tracing out a small head and shoulders top, with an upwardly slowing neckline, found near JPY103.15 on Monday, October 23. 

The measuring objective is near JPY101.80, which is also the 61.8% retracement objective of the advance. 

The Slow Stochastics have turned lower.  The MACD is poised to roll-over early next week.  The RSI is neutral near 56."