USDJPY fell to a new low last week from where we may see a short-term weakness down to around 108-110 area where we expect to see a bounce as current leg from 114.40 represents wave 5), final subwave within wave IV pullback. Keep in mind that despite very big decline from 2015 high we still see this leg down as corrective retracement within big uptrend. That said, don't be surprised by a bounce next month.
USDJPY, Daily
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