USD/JPY has breached the bottom of a bearish Broadening Formation price pattern and is falling toward the first downside target at 148.54, the 61.8% Fibonacci extrapolation of the height of the pattern extrapolated down.USD/JPY Daily Chart 
Further bearishness could carry USD/JPY to the next target at 148.24, the September 2, key swing high.The (blue) Moving Average Convergence Divergence (MACD) momentum indicator is diverging away from its red signal line – a further bearish sign. The short-term trend has probably reversed from bullish to bearish after the breakdown. Given it is a principle of technical analysis that trends have a tendency to extend, the odds now favor more weakness in the short-term. More By This Author:AUD/USD Holds Steady Above 0.6500, Lacks Bullish Conviction Amid Trade War Fears
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