As you can see on the daily chart above, price action has been fairly choppy/overlapping since the March low, which is indicative of a correction. Notice that price has formed a top against the 50% fib retracement of the 124-->95 move. In addition, price tested a 13-year trendline which has proven to be strong resistance. I like the MACD divergence, and the fact that price has dropped below 108.50.
The 4hr chart shows a head and shoulders topping pattern. Price broke below the neckline around 108.50 and then retested the former support level. I am going short once prices confirms the H&S breakout by dropping away from 108.50.
A final bearish indicator is that retail traders are net short USD/JPY.