Japanese Yen 122.13 Remains Key

[B]Commentary[/B]: We remain bearish against 122.13 but the rally from 120.75 has been sharp and is close to the 78.6% of 122.13-120.75, so the pair needs to roll over soon.

We are anticipating a move lower in a 3rd wave, below 120.75, towards 119.50. In summary, as long as 122.13 remains intact, we are bearish. [B]Strategy[/B]: Bearish Now, against 122.13, target TBD