Japanese Yen Correction

[B]Commentary:[/B] We wrote last week that we were looking for larger wave 2 to eventually challenge 119.83 before the next big move down. The rally from 111.59 may be the first leg of a 3 wave correction that will be larger wave 2. Potential reversa points prior to 119.83 are 117.86 and 119.34 (50% and 61.8% of 124.13-111.59).

[B]Strategy:[/B] Flat