USDJPY - Consolidation before Short?

If stars align, risk aversion should continue supporting a potential short in the equity markets along with a weaker USDJPY, and stronger USD across the other majors. While I'm not taking a short just yet, this is just a setup that I will be monitoring over the next few weeks. Fundamentally, there aren't many reasons for equity bulls to keep pressing higher highs, and any negative news could quickly spiral the into a selling frenzy.