In this chat we can see that the market is on the upper of a triangle which is now in a challenging situation. If this dynamic resistant zone break successfully, it will expose the horizontal resistant which is at 120.80 area as well as the last years high 121.80 (~). At the same chart, we drew 2 which are 55 Days (Red one) and 200 Days (Blue one) which are well below the market. This is also indicating a bias in this currency pair.
On the other hand. If the triangle resistant can't be broken, it will fall to nearest to 118. xx or less depending on how BOJ reacts with these sort of challenge this week.
In Lower TF: In 4 Hour Time frame, I can see a is formatting which may complete around 119.70-80 area. (uploading the image in the comment section). We can hope this market may not get further up than this point. (Which is also a medium level resistant area).
Nevertheless, I'm expecting some sort of retracement before the breakout happens to the upper side. We may even see a gap opening (in lower TF).