As Fed Chair Powell gets ready for his two-day speech to Congress, a busy week is coming up

The USDJPY ran into resistance just above 142, making what is known in the world of technical analysis as a "double top pattern." More specifically, the exchange rate went up on Monday to the same level it reached and then went back down from on November 21, 2017. What's the meaning?

Technicians see a double top as a bad sign that could mean the asset in question has hit its turning point and will change direction. Since the USD/JPY has reached 142 twice without breaking higher, it may go through some rough times until either the bears or the bulls get the upper edge.

Jay Powell, who is in charge of the Fed, is stepping in to give the dollar some direction. On Wednesday and Thursday, the head of the central bank will testify in front of Congress about the health of the US economy, the way forward, and maybe even a timetable for when interest rates will go up.