Japanese Yen Correction Towards 122.15

[B]Commentary[/B]: The pullback that we have warned of is underway right now and there is potential for a drop to the channel support line, drawn off of the 4/19 and 6/8 lows, near 122.00/15.

The longer term bull trend is bullish above 120.76 but coming under 120.76 (as well as channel support near 122.00) would indicate additional bearish potential. [B]Strategy[/B]: Look for bullish opportunity close to 122.00/15 channel support, stop and reverse just below 120.76